Sports betting: The top five teams in the CFP rankings are -1200 or better to make the playoffs

The top five teams in the College Football Playoff rankings are all -1200 or better to make it into the 12-team field, according to the BetMGM Sportsbook.

The selection committee released its first rankings of the season on Tuesday with Oregon at No. 1, followed by Ohio State , Georgia , Miami and Texas .

The remaining seven teams that currently would compete in the expanded playoff at the end of the season are Penn State , Tennessee , Indiana , BYU , Notre Dame , Alabama and Boise State .

The new format requires the top four teams to be conference champions, so as of now Oregon ( Big Ten ), Georgia ( Southeastern Conference ), Miami (Atlantic Coast Conference) and BYU ( Big 12 ) would receive first-round byes.

As it stands, the first-round matchups would be: Boise State at Ohio State; Alabama at Texas; Notre Dame at Penn State; and Indiana at Tennessee.

Odds to make the college football playoff

Behind the top five, No. 12 Boise State has the seventh-shortest odds to make the playoff at -250. BYU was ranked No. 9, but they have the 11th-best odds at -155.

SMU was the final team out at No. 13, and its odds are the 13th shortest at -105. Coming in at No. 14, Texas A&M has the 19th-best odds at +350.

College football national championship odds

As of Wednesday, Ohio State has the best odds to win the national championship at +350, followed by Georgia at +450. And despite being No. 1 in the rankings, Oregon has the third-best odds at +450.

Texas (+550), ranked No. 5, is the only other team with odds shorter than +1000.

When it comes to betting, the public is also favoring the Buckeyes. Ohio State is drawing the most money (18.5%) on the most tickets (14.2%).

Georgia is drawing the second-most money (16.9%) on the third-most tickets (10.9%), while Texas is pulling in the third-most money (11.5%) on the second-most tickets (11.6%).