The first 12-team version of the College Football Playoff has advanced to the semifinals. Ohio State has also taken over Texas, its semifinal opponent, as the betting favorite to win the national championship. Did the CFP selection committee get it right? The first-round games were played on campus for the first time – before quarterfinal and semifinal games were switched to bowl games – and all four higher-seeded teams won comfortably. Video above: The sports association wants to recruit more women to referee football games. This led to new questions about the seeding process, which did not subside even after a thriller between the fourth and fifth seeded teams (Texas against Arizona State). The Sugar Bowl was postponed a day after a deadly truck attack in New Orleans, and in the quarterfinals all four top seeds lost after earning byes. Eleven games will take place between December 20th and the final in Atlanta on January 20th, all of which will be broadcast nationally. The Semifinals (Times EST): Location: Orange Bowl, Hard Rock Stadium, Miami Gardens, Florida, Jan. 9, 8:30 p.m. (ESPN) BetMGM College Football Odds: Notre Dame at 1 1/2. How they got here: Penn State defeated 11-seeded SMU (38-10) and 3-seeded Boise State (31-14). Notre Dame defeated 10th-seeded Indiana (27-17) and 2nd-seeded Georgia (23-10). What you should know: Is this the year Penn State finally gets back to a national title game? The Nittany Lions have handled their two CFP games with ease so far, behind a strong defense and a balanced offense. They face a Fighting Irish team with a robust defense of their own and an experienced quarterback in Riley Leonard. The winner: Advancement to the national championship game Jan. 20 in Atlanta. Location: Cotton Bowl, AT&T Stadium, Arlington, Texas, 1/13/10, 8:30 p.m. (ESPN)BetMGM College Football Odds: Ohio State at 6 1/2. How they got here: Texas defeated 12th seed Clemson (38-24) and 4th seed Arizona State (39-31, 2OT). Ohio State defeated 9th seed Tennessee (42-17) and 1st seed Oregon (41-21). What you should know: The Buckeyes have defeated Tennessee and top-ranked Oregon so far. QB Will Howard and big receivers Jeremiah Smith and Emeka Egbuka will now look to take advantage of a Longhorns team that has one of the better defenses in the country, especially in the secondary. The winner: Advancement to the national championship game Jan. 20 in Atlanta. According to BetMGM Sportsbook, Ohio State is now the 11-10 favorite to win the national championship. The Buckeyes moved to the top spot after their Rose Bowl victory and after previous favorite Texas needed two overtimes to win its quarterfinal game against Arizona State. The remaining odds: Texas and Notre Dame (both 7-2) and Penn State (9-2). A 13-member CFP selection committee spent six weeks evaluating the teams and then finalized the rankings on December 8th. The top five ranked conference champions were guaranteed spots in the field regardless of where they are ranked overall by the CFP; Clemson, for example, is ranked 16th in the CFP, but was ranked 12th, its lowest ranking, as the fifth-highest league champion. The top four teams got a week off and automatically advanced to the quarterfinals, where all four lost. The CFP began in January 2015 with four teams. This year it was expanded for the first time. Many believe it could expand again perhaps as early as 2026. A lot: About $115 million is at stake in the playoffs. Each conference receives $4 million for each team that makes it to the final 12, and then another $4 million for those that make it to the quarterfinals. That means teams that earned byes are worth $8 million to their conferences without even playing a game. Teams that make it to the semifinals mean $6 million more for their conference and another $6 million to advance to the finals. The conferences all distribute the money differently. There is also a $300,000 scholarship per team that is academically qualified for the playoffs. Teams that make it to the playoffs will also receive $3 million to cover costs for each round.