In 2024, underdogs enjoyed their most successful regular season ever in the modern college football era. Underdogs pulled off 231 outright upsets in FBS-vs.-FBS matchups and won 29.0% of games during the last regular season. Both marks are records for any season in the FBS era (1978), according to ESPN Research. Home underdogs were especially successful, winning 33.0% of games, the highest mark since 2004.

The slew of upsets occurred during a season in which the average point spread tightened to 10.44, a 40-year low. It was the sixth consecutive season that the average point spread in FBS-vs.-FBS matchups dropped, increasing the implied probability of upsets. The smaller lines did their job, however, with underdogs covering the spread in a very even 51.2% of games.

The "over" also enjoye

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