Heisman Trophy odds after Week 5 of college football (UPDATED) ft. Arch Manning, Jalen Milroe and more

The Heisman Trophy is given to the college football player who is seen as the best throughout the season. Coming into the season, players like Georgia Bulldogs quarterback Carson Beck and Texas Longhorns quarterback Quinn Ewers were favorites to win the award.

With Week 5 in the books (and Ewers being out injured for the last few weeks), who are the favorites to win the Heisman Trophy?

Updated Heisman Trophy odds after Week 5

#1, Jalen Milroe (+210)

Alabama Crimson Tide dual-threat quarterback Jalen Milroe has been compared to Johnny Manziel this season.

His performance in Saturday's 41-34 win over the Georgia Bulldogs was something to remember. He threw for 374 yards and rushed for 117, scoring four touchdowns. This, paired with all of his other strong performances this season, means that he is definitely the favorite for the Heisman.

#2, Cam Ward (+500)

Coming into this week, Miami Hurricanes quarterback Cam Ward was the favorite for the Heisman Trophy. However, he has slipped in the odds due to a below-par performance in Friday's 38-34 win over the Virginia Tech Hokies.

While he threw for 343 yards and four touchdowns, he also had two interceptions. These were costly mistakes as the Hokies scored off both of them. If these mistakes did not happen, the Hurricanes would have had an easier win.

#3, Travis Hunter (+750)

The Colorado Buffaloes wide receiver/defensive back had another good game in Saturday's 48-21 romp over the UCF Knights, scoring one touchdown and intercepting a pass.

#4, Ashton Jeanty (+1100)

The Boise State Broncos running back may not normally be considered for the Heisman Trophy, but Jeanty is making a case to be considered.

Jeanty rushed for 259 yards and scored four touchdowns in Boise State's 45-24 win over Washington State. Those numbers are impressive, and in only five games, he has recorded over 800 rushing yards.

College football's single-season rushing record is 2,628 yards by Barry Sanders in 1988. If Jeanty comes near this, he is likely to be a strong contender for the Heisman.

Notable mentions

Arch Manning (+10000)

Arch Manning started his second consecutive game for the Texas Longhorns, throwing for 324 yards and two touchdowns in a 35-13 win over the Mississippi State Bulldogs. However, once Quinn Ewers is healthy, Manning likely won't play, so the Heisman Trophy seems out of reach this season.

Shedeur Sanders (+3300)

The Colorado Buffaloes quarterback has had a good start to the season. He has thrown for 326.0 yards per game and is winning games. However, there are better quarterbacks in college football at the moment, so it is going to take a herculean effort for Sanders to win the Heisman Trophy.