Nostradamus' biggest problem is that he didn't get paid!

If you are a college football futures bettor, or an aspiring futures bettor, there is one very important word to keep in mind: value. Trying to project out an entire season - which is essentially what you are trying to do by making a futures wager on conference champions - is a difficult task. So the main thing is to not try to bet the team that you think will win, but instead try to weigh the likelihood of a school taking a title vs. their actual payout.

For instance, this year the USC Trojans are the dominant team in the Pac-10 and a virtual shoo-in to win the conference title. However, are getting essentially 1-to-3.5 on your money, meaning you would have to lay out nearly $1,000 just to win just $285. Considering the fact that they only have 11 starters, are without their top quarterback, and they have some tricky road games I don't see any value in that selection.

Below I've listed the current 2008 NCAA Football Conference Odds and given my best advice for betting college football conference winners after the odds:

Big Ten Conference
Ohio State - 1-2
Wisconsin - 3-1
Illinois - 5-1
Penn State - 5-1
Michigan - 11-2
Iowa - 10-1
Michigan State - 12-1
Purdue - 12-1
Northwestern - 25-1
Indiana - 30-1
Minnesota - 50-1

Ferringo's Best Bet: Ohio State. Wisconsin does get OSU at Camp Randall and offer great value. But even if they do manage to win that game I can see them slipping up against Penn State, Illinois, and/or Michigan State. If Wiscy was 6-to-1 I would bite. But not at 3-to-1.

Atlantic Coast Conference
Clemson - 8-5
Virginia Tech - 3-1
Florida State - 4-1
Miami - 6-1
North Carolina - 8-1
Wake Forest - 8-1
Boston College - 25-1
Maryland - 25-1
Georgia Tech - 30-1
North Carolina State - 30-1
Virginia - 50-1
Duke - 100-1

Ferringo's Best Bets: Florida State and Wake Forest. These two are worth a look. The winner of their Sept. 20 matchup (and FSU will be without a boat load of suspended players) has the inside track as the main challenger to Clemson. And both will host the Tigers this year.

Big 12 Conference
Oklahoma - 1-1
Missouri - 11-4
Texas - 3-1
Texas Tech - 8-1
Kansas - 12-1
Nebraska - 12-1
Colorado - 20-1
Oklahoma State - 25-1
Texas A&M - 40-1
Kansas State - 50-1
Baylor - 100-1
Iowa State - 100-1

Ferringo's Best Bet: Oklahoma. I actually give Missouri the slight edge in schedule because OU has to travel to Oklahoma State, to Kansas State, and they have to face Texas Tech. But I go with Oklahoma here because they absolutely own Chase Daniels and Missouri. If you think Mizzou can get the monkey off their back if the two meet in the title game, then Missouri is worth the risk paying 3-to-1. But I would think that you can take Oklahoma here and then hedge with a ML play on the Tigers if the clubs meet. This is a similar situation to the Big 10. If Mizzou was 4-to-1 I would be on them. But not at around 2.5-to-1.

Big East Conference
West Virginia - 10-11
South Florida - 5-2
Pittsburgh - 5-1
Rutgers - 5-1
Cincinnati - 8-1
Connecticut - 10-1
Louisville - 15-1
Syracuse - 50-1

Ferringo's Best Bet: South Florida and Pittsburgh. Bet them both and you will win money. I do not see West Virginia taking the title this year and I believe their primary challengers will pay out. Bet them both, and if either wins you take home the cash. You could also bet $300 on USF (pays $750), and then $200 on both Pitt and Rutgers (to win $1000). If one of those clubs, and not WVU, wins, then you are getting paid.

PAC 10 Conference
USC - 2-7
Arizona State - 3-1
Oregon - 7-1
California - 8-1
UCLA - 8-1
Washington - 15-1
Arizona - 20-1
Stanford - 30-1
Oregon State - 40-1
Washington State - 40-1

Ferringo's Best Bet: None. There just isn't the value on USC to make this a worthwhile bet. I do know that ASU and Oregon are sucker bets. The best value is on Cal. But this one is all USC, so if we have to make a pick I would go with them.

Southeastern Conference
Florida - 3-2
Georgia - 5-2
Auburn - 4-1
LSU - 4-1
Tennessee - 8-1
Alabama - 12-1
South Carolina - 30-1
Mississippi - 40-1
Arkansas - 50-1
Kentucky - 50-11
Mississippi State - 50-1
Vanderbilt - 50-1

Ferringo's Best Bet: Florida. There's not great value in this conference either. Georgia could take the crown, but with their schedule it isn't worth the price. I also think that Auburn, Tennessee, or even South Carolina could take the crown with a big upset, so there is value there.