The Miami Hurricanes have defied expectations by advancing to the College Football Playoff (CFP) final four after a remarkable December. Once considered long shots, Miami has transformed into a contender, now opening as a 2.5-point favorite against Ole Miss in the upcoming semifinal. In the other semifinal, Indiana is positioned as a 4-point favorite over Oregon.
Just a week prior to the final CFP rankings released on December 7, 2023, the Hurricanes were given odds of 10-1 to make the playoffs and around 150-1 to claim the national championship. Their journey took a significant turn when they edged past Notre Dame and entered the playoffs, subsequently posting consecutive upsets, including a decisive victory against defending champion Ohio State.
The loss for Ohio State not only marked a significant moment in the playoffs but also impacted betting trends. Many sportsbooks had seen substantial wagers placed on Ohio State to win the national championship throughout the season. In contrast, Miami had not attracted the same level of public interest outside Florida, particularly after suffering two losses in three weeks leading into November. Nevertheless, local support remained strong.
On November 30, when Miami was viewed as a 150-1 shot for the national title, a bettor at Hard Rock Bet placed a $2,500 wager on the Hurricanes, aiming for a potential net win of $375,000. As the only licensed sportsbook in Florida, Hard Rock has seen a surge in betting activity related to the Hurricanes this season.
The excitement surrounding Miami’s upset of Ohio State generated the highest betting volume for any game this season at Hard Rock Bet, with the matchup against Notre Dame following closely. According to Neil Walsh, senior vice president of Hard Rock Bet, Miami has been the most popular team for futures betting, creating significant liability for the sportsbook. “When it comes to national title liability, it’s all about the U,” Walsh stated. “Miami has been our most popular team all year, and because futures were written at much longer prices than past Florida title runs, the liability is on another level.”
As the semifinals approach, the Miami Hurricanes look to build on their momentum and make a bid for the national championship, demonstrating that resilience and determination can overturn long-standing odds.
