Boise State enters the debut season of the reformed Pac-12 as an overwhelming favorite, priced at +150 to win a conference the Broncos didn’t even belong to a year ago.
This is a genuinely new event — the first Pac-12 Championship Game since 2023, and the first ever contested by this particular group of eight teams. After Oregon State and Washington State spent two lonely seasons keeping the Pac-12 name alive with just the two of them, the conference rebuilt itself around six newcomers, headlined by three-time reigning Mountain West champion Boise State.
2026 Pac-12 Championship Odds: Full List
- Boise State Broncos +150
- San Diego State Aztecs +400
- Fresno State Bulldogs +600
- Texas State Bobcats +650
- Washington State Cougars +900
- Utah State Aggies +1000
- Oregon State Beavers +3000
- Colorado State Rams +4000
Note: Odds are subject to change.
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Boise State Tops Pac-12 Conference Championship Odds
It’s not hard to see why the market has settled on Boise State so decisively.
The Broncos won three straight Mountain West titles under Spencer Danielson before bolting for this new-look Pac-12, and they return 13 starters, tied for the second-most of any Group of Six program in the country.
Quarterback Maddux Madsen is back for a fifth season and third as the starter, looking to rebound from a rockier junior year.
The schedule isn’t easy — Boise State opens on the road at Oregon and also faces Memphis and Western Michigan in nonconference play — but the roster and coaching continuity alone separate the Broncos from the rest of this new league.
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San Diego State and Fresno State Return the Most Battle-Tested Rosters
San Diego State checks in as the clear second choice at +400, bringing back both its head coach and a chunk of the talent from a 9-4 season, the same qualities that make Fresno State a threat at +600.
The two programs actually met last season while still in the Mountain West, with Fresno State pulling off a stunning upset in Boise, a result that should have both fan bases believing they can hang with the presumptive favorite when it matters most.
Texas State rounds out the next tier at +650, the program whose commitment as the conference’s eighth and final football member effectively made this entire relaunch possible.
G.J. Kinne’s Bobcats have quietly won back-to-back bowl games and arrive with real momentum heading into a much tougher league than the Sun Belt.
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New Coaches Cloud the Bottom Half of the Board
Washington State and Utah State sit at +900 and +1000, respectively, both considered live threats but facing a jump in competition level after years spent outside a power-conference-adjacent environment.
Oregon State and Colorado State close out the board as the clear long shots at +3000 and +4000, with both programs breaking in new head coaches — JaMarcus Shephard in Corvallis — after old-guard staffs departed amid the broader upheaval across the sport.
With no history between these eight teams as a group, and a new “flex week” scheduling wrinkle added to the mix in November, this inaugural Pac-12 race carries more genuine uncertainty than almost any other conference odds board this season.
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