Ohio State is still smarting from an upset loss at the hands of Penn State and Buckeye fans are pretty down on their team, but Las Vegas sure isn't.

In odds released Sunday, the Westgate Las Vegas Superbook has Ohio State second, at 3/1, in their odds to win the College Football Playoff, trailing only Alabama, the favorite at 8/5.

How, you may ask, given that the Buckeyes just took one on the chin from the Nittany Lions.

It's simple, really. Las Vegas likes Ohio State to win out, and as of right now, they will be favored for the clash with unbeaten and second-ranked Michigan when they meet at the end of November. In fact, the Buckeyes are actually up from the 10/1 odds they opened at in January.

Should the Buckeyes win out and beat Michigan to end the regular season, Big Ten tie-breakers align favorably with Ohio State's position.

Speaking of the Wolverines, Jim Harbaugh's team is third, per the Westgate, at 5/1, with Washington and Louisville tied for fourth at 7/1.