The best team in college football might not be participating in the college football postseason at all.

Notre Dame’s exclusion from the College Football Playoff and its ensuing opt-out of any bowl game have drawn polarizing reactions for the last five days. The betting market can help explain the Irish’s petulance.

This was no ordinary snub; it’s probably the biggest one in playoff history based on probability to win the title.

Only one team in the nation — No. 2 seed Ohio State — would be a surefire favorite over Notre Dame on a neutral field currently. No. 1 seed Indiana would likely open a 1.5- to 2.5-point favorite over Notre Dame, but action could easily flip that line the other way.

That’s a strong possibility to happen, by the way, with Notre Dame having attracted betting steam

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