The College Football Playoff (CFP) quarterfinals begin with Texas (+300) emerging as the betting favorite to win the National Championship. Eight teams remain in contention for the title.

Tonight's Vrbo Fiesta Bowl features No. 3 Boise State against No. 6 Penn State at State Farm Stadium in Phoenix. The Nittany Lions enter as 11-point favorites, with 62% of the betting money backing PSU.

Texas (12-2) faces Arizona State in tomorrow's Chick-fil-A Peach Bowl as 12.5-point favorites. The Longhorns have attracted 10% of tickets and 13% of betting handle at BetMGM.

Current Championship Odds:

• Texas: +300
• Ohio State: +350
• Oregon: +450
• Georgia/Penn State: +525
• Notre Dame: +650
• Arizona State/Boise State: +6600

Tomorrow's matchups include:

• Peach Bowl: Texas vs. Arizona State (1 pm EST)
• Rose Bowl: Ohio State (-2.5) vs. Oregon (5 pm EST)
• Sugar Bowl: Georgia (-1.5) vs. Notre Dame

Key Storylines:

• Boise State's Ashton Jeanty, Heisman runner-up, faces Penn State's elite defense (131.5 rushing yards over/under)
• Georgia starts backup QB Gunner Stockton due to Carson Beck's injury
• Ohio State seeks revenge against Oregon after October's 32-31 loss

The CFP structure will likely change next year, with the top four overall teams receiving byes instead of conference champions. This year's format gave automatic byes to Boise State, Arizona State, Oregon, and Georgia as conference winners, despite some conferences being considerably weaker than others.

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