Preseason Odds
- As of Jul 15, 2002
| Championship Odds | Record | |
|---|---|---|
| Miami (FL) | +350 | 12-1 |
| Oklahoma | +450 | 12-2 |
| Tennessee | +600 | 8-5 |
| Florida State | +800 | 9-5 |
| Texas | +800 | 11-2 |
| Nebraska | +1000 | 7-7 |
| Florida | +1200 | 8-5 |
| Colorado | +1300 | 9-5 |
| Virginia Tech | +1500 | 10-4 |
| Michigan | +1600 | 10-3 |
| Oregon | +1800 | 7-6 |
| Ohio State | +1900 | 14-0 |
| Washington | +2000 | 7-6 |
| Georgia | +2200 | 13-1 |
| Michigan State | +2500 | 4-8 |
| LSU | +2600 | 8-5 |
| Maryland | +2800 | 11-3 |
| Illinois | +3000 | 5-7 |
| Washington State | +3000 | 10-3 |
| Kansas State | +3200 | 11-2 |
| Auburn | +3800 | 9-4 |
| Arizona | +4000 | 4-8 |
| UCLA | +4200 | 8-5 |
| Wisconsin | +4500 | 8-6 |
| South Carolina | +5000 | 5-7 |
| Boston College | +5000 | 9-4 |
| Notre Dame | +7500 | 10-3 |
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