Heisman watch: Who are the frontrunners for the Heisman Trophy heading into Week 12?

There's a new quarterback leading the Heisman rankings this week. Oregon's Bo Nix leads the Heisman odds after his four-touchdown performance in a 36-27 win over USC. Longtime Heisman favorite Michael Penix Jr. of Washington drops to second behind his fellow Pac-12 quarterback.

The Pac-12 duo is in front but the gap to others has closed. LSU quarterback Jayden Daniels jumped up the order thanks to an incredible 600-yard, six-touchdown performance against Ole Miss. Ohio State wideout Marvin Harrison Jr. and Georgia quarterback Carson Beck round out the top five of the Heisman odds.

Here's how each player could improve their chances of winning the Heisman Trophy.

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1. Bo Nix, QB, Oregon (-110)

The No. 6-ranked Ducks avoided an upset at home against USC in building a 36-14 lead before cruising to victory. Oregon's second-ranked offense continued to churn out yards at will. Nix went 23-for-31 passing with a season-high 412 yards and four touchdowns. He continues to lead the FBS in completion percentage (77.7) and top five in passer rating, yards per attempt, and passing touchdowns.

This week, Nix and the ducks head to Tempe, Arizona to take on Arizona State. The Sun Devils beat UCLA on the road last week but gave up 55 points the week prior to the Utah Utes. Arizona State slowed down Washington's potent passing attack in Week 8 but Oregon's a more balanced attack. Nix could be in for another big day.

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2. Michael Penix Jr., QB, Washington (+375)

After leading the Heisman odds for most of the season, Penix Jr. is now closer to the rest of the top five than the favorite. The Huskies beat Utah 35-28 to reach 10-0 for the second time in program history but Penix Jr. had an off game by his standards. He completed 24 of 42 passes for 332 yards and three total touchdowns (two passing, one rushing). That completion rate - 57% - is his second-lowest of the season.

Still, Penix Jr. leads the FBS in passing yards (3,533). The Huskies face a feisty No. 10-ranked Oregon State Beavers squad on the road in Corvallis this weekend. Oregon State's won five of its last six games and won't be an easy day for Washington. Penix Jr. needs a bounce-back game to close the gap to Nix. A win would also clinch a spot in the Pac-12 championship game.

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3. Jayden Daniels, QB, LSU (+400)

Daniels' performance against the Gators was historic. He became the first player in FBS history to rush for more than 200 yards and throw for more than 350 in the same game with most of the fourth quarter still to play. He even hit the Heisman pose after one of his touchdowns.

Florida was the best team left on the Tigers' schedule and LSU closes the season out with consecutive home games. Daniels can improve his stock once again with another strong performance against Georgia State. The Panthers' 96th-ranked defense will likely provide ample opportunity for Daniels and the Tigers' second-ranked scoring offense.

4. Marvin Harrison Jr., WR, Ohio State (+550)

Harrison Jr. had an incredible performance of his own last Saturday. The wideout caught seven passes for 149 yards and two touchdowns and took his second rushing attempt of the year 19 yards for another touchdown in the Buckeyes' 38-3 win over Michigan State. His first three-touchdown game of the season rightfully gives him his best Heisman odds of the season.

Big Ten showdown: No. 3 Buckeyes have to get by Minnesota to clear the path for another clash with No. 2 Michigan

This week, the No. 3 Buckeyes stay home for a matchup against Minnesota. The Golden Gophers have given up just three 100-yard games to receivers in 2023. But those three games were impressive. North Carolina's Nate McCollum had 15 catches, 165 yards, and a touchdown. Northwestern's Bryce Kirtz went 10-215-2 and Illinois' Isaiah Williams went 13-131-2. Harrison Jr. is a better wide receiver than those three and could have another impressive outing at home.

5. Carson Beck, QB, Georgia (+3500)

Beck joins the top five of the Heisman rankings, albeit with much longer odds than the top four. The jump up to the top five comes after arguably his best game of 2023: 18 of 25 passing for 306 yards and two touchdowns as well as four carries for 30 yards in Georgia's dominant 52-17 win over Mississippi.

The Bulldogs finish off their SEC regular season conference schedule Saturday on the road at No. 19 Tennessee. The Volunteers' defense is playing well in 2023 and has yet to allow a 300-yard passer this season. Georgia's defense will likely keep the Volunteers in check so Beck is free to make a statement on offense.

This article originally appeared on USA TODAY: Heisman Trophy odds: Top 5 favorites as Heisman race enters Week 12