(Photo credit: Soobum Im-USA TODAY Sports)

Shedeur Sanders' rapid rise up the Heisman Trophy odds took an abrupt U-turn following Colorado's blowout loss at Oregon on Saturday.

After entering the weekend among the top 10 Heisman favorites at 1800 at both BetMGM and DraftKings, Sanders' odds plummeted to 8000 at both books. He's now outside of the top 20 and likely out of Heisman consideration after throwing for a season-low 159 yards and one touchdown on 23-of-33 passing in Eugene.

That touchdown pass came with 2:51 remaining to help the Buffaloes avoid being shut out by the Ducks.

The result was a significant win for the books. Sanders had been backed by a whopping 53 percent of the Heisman money and 58 percent of the total bets at DraftKings last week, while he was also the biggest liability at BetMGM, where he had drawn 20.3 percent of the bets.

Conversely, Washington quarterback Michael Penix Jr. continued his steady rise after engineering the Huskies' 59-32 rout of California.

Penix is now the co-favorite at BetMGM, where he is being offered at 350 along with Southern California quarterback Caleb Williams. The next closest odds belong to Texas quarterback Quinn Ewers, with Oregon signal-caller Bo Nix rising to 1200 after throwing for 276 yards against Colorado.

Florida State quarterback Jordan Travis is 1300 after the Seminoles won in overtime at Clemson, while Notre Dame's Sam Hartman is at 1600 after the Fighting Irish's last-second loss to Ohio State.

The Heisman race could well come down to a Nov. 4 showdown between the Trojans and Huskies in Los Angeles. Penix also has other marquee games against Oregon and Nix on Oct. 14 along with a closing three-game stretch after the Trojans that includes Utah, Oregon St. and the Apple Cup rivalry against Washington State.