Special to Outkick The Coverage from OddsShark.com
Despite hauling in what many believe to be the second-best recruiting class in the country and winning four of the past seven national championships, the Alabama Crimson Tide have dropped down to 7/1 from 6/1 to repeat in 2017.
Meanwhile, moving up three spots since the last update to replace Alabama as the favorite are 2015 national champions, the Ohio State Buckeyes. The Buckeyes went from 10/1 to 6/1 following Signing Day with the addition of the country's fifth-ranked recruiting class.
The Buckeyes may have lost defensive end Joey Bosa -- who could end up being picked No. 1 overall in the 2016 NFL Draft -- but they will be replacing him with a familiar name in his younger brother Nick Bosa, the third-ranked prospect in the nation overall.
Offensively, they also lost running back Ezekiel Elliott, but he too will be replaced by another top prospect in Demario McCall, the second-ranked player at his position in the country.
Ohio State head coach Urban Meyer signed 18 recruits overall and has said he wants all of them to play as true freshmen, proving how much he believes in this class.
The Crimson Tide lost Heisman Trophy winner Derrick Henry to the NFL as well and will face competition for the national title from their opponent in the 2016 College Football Playoff Championship Game, the Clemson Tigers, along with the Michigan Wolverines.
Both Clemson and Michigan are listed at 15/1 to win the national championship followed by the Oklahoma Sooners (14/1), Tennessee Volunteers (14/1), LSU Tigers (14/1), Baylor Bears (16/1), Notre Dame Fighting Irish (16/1), Stanford Cardinal (16/1), Florida State Seminoles (20/1) and Ole Miss Rebels (20/1).
Clemson and Stanford each return 2015 Heisman finalists in quarterback Deshaun Watson and running back Christian McCaffrey, respectively. Michigan signed the top overall recruit in the country, defensive tackle Rashan Gary, who gives head coach Jim Harbaugh the rock in the middle to go up against Meyer's Buckeyes.
Oklahoma and LSU also have possible finalists for the 2016 Heisman in quarterback Baker Mayfield and running back Leonard Fournette, who just missed the cut last year.