Ohio State receiver Jeremiah Smith isn't going to win the "September Heisman."
That's OK. We expect the best player in college football to separate as the 2025 college football season progresses through October. Of the 13 players with Heisman odds of +1600 or better according to Caesars before the announcement of John Mateer's wrist injury that will keep him out a few weeks, Smith was the only non-quarterback among the bunch.
Caesars pulled its odds down with the Mateer announcement and has not reposted.
The "September Heisman" will likely go to Indiana quarterback Fernando Mendoza if the Hoosiers continue to roll at Iowa on Saturday. Mateer will lose some ground after being sidelined with a hand injury that will require surgery. That QB field is crowded and at best a week-to-week endeavor because there has not been true early-season separation.
MORE: Picks against the spread for Week 5's Top 25 games
Smith, meanwhile, is still widely considered the best player in college football. It's not about right now. Smith ranks 27th in the FBS with 315 receiving yards and is tied for 43rd with 20 catches. He still has three TDs and averages 15.8 yards per catch. Smith had six catches for 43 yards in the opener against Texas – including two drops.
So, what is the opportunity here? He had back-to-back 100-yard games against Grambling and Ohio, and he added a 17-yard TD on a reverse against the Bobcats. He has three targets on passes of 20 yards or more according to Pro Football Focus, and that has resulted in three catches for 176 yards and two TDs.
He also will have the stages – starting with a fun road matchup at Washington in Week 5. Smith should be able to pile on numbers in Big Ten play before the highly-anticipated matchups against No. 3 Penn State (Nov. 1) and No. 19 Michigan (Nov 29). If Smith takes over those games, he’ll do what Marvin Harrison Jr. couldn’t quite finish when he finished fourth in the Heisman Trophy voting in 2023.
It’s easier to separate Smith from the other receivers than it will be that crop of quarterbacks. With that in mind, here is a look at the Heisman Trophy odds and the leaderboard heading into Week 5.
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Heisman Trophy Odds
A look at the latest Heisman Trophy odds prior to Mateer's injury, according to Caesars. A total of 13 players have Heisman odds of +1600 or better:
| PLAYER | SCHOOL | POS | ODDS |
| John Mateer | Oklahoma | QB | +700 |
| Fernando Mendoza | Indiana | QB | +950 |
| Dante Moore | Oregon | QB | +1000 |
| Carson Beck | Miami | QB | +1000 |
| Josh Hoover | TCU | QB | +1200 |
| Gunner Stockton | Georgia | QB | +1400 |
| Marcel Reed | Texas A&M | QB | +1500 |
| Joey Aguilar | Tennessee | QB | +1500 |
| Jayden Maiava | USC | QB | +1600 |
| Garrett Nussmeier | LSU | QB | +1600 |
| Demond Williams Jr. | Washington | QB | +1600 |
| Thomas Castellanos | Florida State | QB | +1600 |
| Jeremiah Smith | Ohio State | WR | +1600 |
Top Heisman Trophy contenders
Here are the top three Heisman Trophy contenders heading into the final week of September. These four quarterbacks have Heisman odds of +1000 or better. With the news of John Mateer's hand surgery, Ca
- John Mateer, QB, Oklahoma (+700)
2025 stats: 1,215 yards, 67.4%, 6 TDs, 3 INTs
Mateer also has 190 rushing yards and five TDs – and he has earned the nickname "Money Mateer" – an obvious comparison to 2012 Heisman winner Johnny Manziel. Mateer offered one difference after Saturday's victory against Auburn when he said, "I'm going to church in the morning." Mateer has led the Sooners to a pair of victories against ranked opponents, and he ranks second in the FBS in total offense with 351.2 total yards per game. It is undetermined when he will return. If he misses the Texas game, that is a major lost opportunity in his pursuit of the Heisman.
MORE: John Mateer meets his moment against Michigan
- Fernando Mendoza, QB, Indiana (+950)
2025 stats: 975 yards, 76.8%, 14 TDs, 0 INTs
Is there a hotter name right now? Mendoza has back-to-back five-TD games, including Saturday's convincing 63-10 victory against No. 23 Illinois. He leads the nation in TD passes and ranks second with a 206.2 efficiency rating – which trails USC's Jayden Maiava (+1600). Mendoza and Maiava are the Big Ten QBs to watch on this board. Now, Mendoza faces Iowa – a tough defense that allows 172.8 passing yards per game. Mendoza also will face No. 3 Oregon (Oct. 11) and No. 6 Penn State (Nov. 8).
MORE: Meet Indiana's surprise Heisman candidate
- Dante Moore, QB, Oregon (+1000)
2025 stats: 962 yards, 74.7%, 11 TDs, 1 INT
Bo Nix finished third in the Heisman voting in 2023. Dillon Gabriel finished third last season. Moore looks like the third straight Oregon QB under Dan Lanning who could be headed to New York. Moore had 305 passing yards, 53 rushing yards and four TDs in a 41-7 blowout victory against Oregon State in Week 4. Now, he gets the chance to silence the "Whiteout" at Penn State to close September. This is the chance for a signature Heisman moment, too.
- Carson Beck, QB, Miami (+1000)
2025 stats: 972 yards, 73.2%, 7 TDs, 3 INTs
Look who's back. Beck has led Miami to arguably the best collection of victories among the contenders, and he's settled in as a starter with a 161.4 passer rating for the Hurricanes. Beck has made good on the Georgia transfer. Again, stats could be an issue. Cam Ward averaged 359.8 passing yards with 14 TDs and one interception for Miami through four games last season – and he finished fourth.
- Josh Hoover, QB, TCU (+1200)
2025 stats: 1,000 yards, 68%, 11 TDs, 2 INTs
Hoover has a chance to move up this week with the Horned Frogs taking on Big 12 champion Arizona State on Friday. Hoover leads the FBS with 333.3 passing yards per game, and he is 17 of 28 (60.7%) with five TDs and no interceptions on passes between 10-19 yards. If that continues, then Hoover will attract more NFL attention. He's equipped to lead a playoff run much like former TCU QB Max Duggan, who finished second in the Heisman voting in 2022.
- Gunner Stockton, QB, Georgia (+1400)
2025 stats: 721 yards, 70.8%, 4 TDs, 0 INTs
Stockton would be more of a long-shot candidate at this point – but if he continues to lead Georgia toward a SEC championship the Bulldog will have a shot. Stockton ranks fourth in the SEC in completion percentage, and the overall statistics will be a challenge. Stockton, however, has one of the clutch throws of the season – the 28-yard TD pass to London Humphreys on fourth down that helped force overtime in a 44-41 victory against Tennessee. If Stockton delivers against No. 17 Alabama on Saturday, then his stock will increase.
When is the Heisman Trophy Ceremony?
The Heisman Trophy will be awarded on Dec. 13, 2025; one week after the conference championship games. The ceremony will be televised at 8 p.m. ET on ESPN.