The college football betting action has not disappointed throughout the first month of the season. While there have been stunning upsets, coaching changes and surprising contenders, the College Football Playoff picture remains largely unchanged – for now. 

Georgia (+190), Alabama (+200) and Ohio State (+240) remain the consensus top three on the college football playoff odds board, with Clemson (+1500) and USC (+1600) the closest contenders on betting apps. Those odds are still based largely on conference outlook, and there’s still potential for plenty of chaos and shake-up atop the board. 

That starts this week with Clemson favored by less than a touchdown against No. 10-ranked North Carolina State, in what ultimately could prove to be the Game of the Year in the ACC if the 4-0 Wolfpack keep playing like this. The Crimson Tide will also be put to the test as -16 favorites in a road game at No. 20 Arkansas, and those two games alone could potentially change the entire CFP outlook as we dive into conference play.  

College Football Week 5 Odds

Let's take a look at the latest college football odds for select games in CFB Week 5 of the 2022 season. Don't forget to shop around at sportsbooks and on available betting apps for the best price and college football week 5 lines.

And don't forget to keep reading down this article for our best college football picks for Week 5.

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College Football Week 5 Best Bets

Here's a look at our college football week 5 best bets, including our favorite picks for Michigan vs. Iowa and Kentucky vs. Ole Miss.

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Michigan at Iowa, Oct. 1, Noon ET

The Wolverines head to Iowa City as double-digit favorites, though the line isn’t as high as many would have guessed just last week. The Wolverines got the job done but weren’t overly impressive at all in a 34-27 home win over Maryland. Iowa handled its business in a 27-10 win at Rutgers. The only question is how Michigan’s offense will stack up against this Iowa defense, by far the best unit the Wolverines have faced this year following a weak nonconference schedule.

The line has inched up to +11 for Iowa and that’s too many points in a game like this, for a program that has a history of knocking off top-5 opponents at home. 

The Pick: Iowa +11

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Kentucky at Ole Miss, Oct. 1, Noon ET

Two unbeaten SEC foes match up in a huge Week 5 game at Ole Miss. The Wildcats scored a signature 26-16 win at Florida in Week 2 but haven’t otherwise looked stellar, especially in last week’s 31-23 home win over Northern Illinois. But the Rebels haven’t been tested either, and they weren’t overly sharp in a 35-27 home win over Tulsa. This is a great chance for both programs to prove they’re legit SEC contenders, or potentially get exposed as pretenders coasting off an easy month.

Kentucky has been a great value bet at 11-5-1 against the spread since the start of the 2021 season, that’s a tiny sample size and bettors can get too caught up chasing short-term trends. Every matchup is different and this is a particularly tough one for the Wildcats. 

The Pick: Ole Miss -6.5

Iowa State at Kansas, Oct. 1, 3:30 p.m. ET

The Jayhawks are 4-0 for the first time since 2009 and have a chance to make another massive statement Saturday. No one expected second-year coach Lance Leipold to turn things around this quickly, with Kansas a small home underdog against 3-1 Iowa State. The Cyclones scored a big victory at Iowa in Week 2 and are coming off a close home loss to Baylor. Iowa State’s big-picture goals are still there for the taking, but the Jayhawks could be ready to spoil the party.

We want to believe in these Jayhawks. It’s a great turnaround story and exciting times in Kansas, but the Cyclones are an experienced, well-rounded ball club that shouldn’t be overwhelmed by the sellout crowd. 

The Pick: Iowa State -3

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Alabama at Arkansas, Oct. 1, 3:30 p.m. ET

The Crimson Tide are significant favorites and looking to make it 15 straight wins over the Razorbacks. But Arkansas will have plenty of confidence after falling just short in 42-35 loss last year in Tuscaloosa. We’ll learn plenty about Alabama in this one, with Nick Saban’s crew 4-0 and looking to prove they belong back on top after a loss to Georgia in last year’s national title game. We could learn a lot about the Razorbacks as well in a game that might be closer than the spread indicates. 

The Razorbacks definitely have Saban’s attention and we don’t expect another last-minute outcome. The Tide have covered at a 59.3% clip on the road since 2008 and should add another Saturday.

The Pick: Alabama -17.5

Oklahoma State at Baylor, Oct. 1, 3:30 p.m. ET

The Bears have already played two very tough opponents, falling in double-overtime at BYU before a massive 31-24 win at Iowa State last week. Now Baylor is a very slight favorite against an Oklahoma State team coming off a bye. The Cowboys responded to 58-44 win over Central Michigan by beating Arizona State and Arkansas Pine Bluff, and we definitely want to see Oklahoma State prove it's for real before trusting the Cowboys in a game like this.

Oddsmakers don’t seem very high on Baylor this season, but we’re not sold on the Cowboys. Baylor is experienced and battle-tested, taking on a relatively weak defense that gave up 44 points to a MAC school in Week 1. 

The Pick: Baylor -2.5

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Wake Forest at Florida State, Oct. 1, 3:30 p.m. ET

The Demon Deacons came oh-so-close to snapping a 13-game losing streak to Clemson, falling to the Tigers yet again in a 51-45 double-overtime loss. But Wake Forest has a chance to get right back into the ACC title picture this week against 4-0 Florida State, with the Seminoles favored by single digits and coming off an impressive blowout win over Boston College.

The betting public is completely split on this one in terms of both tickets and handle. It doesn’t seem like Hurricane Ian will have a huge impact on the game. Slowing this Demon Deacons offense is a tall order and while we like Florida State to win, this could be a nail-biter. 

The Pick: Wake Forest +7

RELATED: Best Weekly College Football Parlay Bets

LSU at Auburn, Oct. 1, 7 p.m. ET

The Tigers are home underdogs in what might be the final game of Auburn coach Bryan Harsin’s tenure. Harsin almost certainly would have been gone last weekend had the Tigers not held on for a 17-14 home win over Missouri. It’s probably just a matter of time at this point and we expect Auburn to cut ties at the next sign of trouble – including a home loss to an unranked LSU team, regardless of the point spread.

Auburn hasn’t even shown any glimpses of hope or signs that the players are fighting hard for Harsin in what are likely his final days with the Tigers. 

The Pick: LSU -8.5

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North Carolina State at Clemson, Oct. 1, 7:30 p.m. ET

This top-10 matchup caps a huge week in the ACC, as No. 10 North Carolina State heads to Clemson looking for its first win over the Tigers in Clemson since 2002. Last year’s 27-21 upset win in Raleigh helped sink Clemson’s ACC title chances and snapped a streak of eight-straight Clemson wins in this matchup. That inherent belief is big. The Wolfpack would love to play spoiler for the second year in a row, and perhaps go on to far bigger and better things with a massive upset road win. But that’s easier said than done when you’ve never played a game of this magnitude against a program that’s seen it all and consistently wins when the lights are brightest. 

The Pick: Clemson -6.5