Burrow, a senior in his second season as LSU's starter, was listed as long as 200-1 in the summer but has thrived in the Tigers' new spread attack. He has passed for 2,484 yards and 29 touchdowns, with only three interceptions, leading LSU to a 7-0 start.
Hurts, who transferred to Oklahoma from Alabama this offseason, has been just as prolific, accounting for 30 touchdowns (20 passing, 10 rushing) for the Sooners, who are unbeaten at 7-0.
Alabama quarterback Tua Tagovailoa had been the Heisman favorite but suffered an ankle injury in the Crimson Tide's win over Tennessee on Saturday. Tagovailoa underwent surgery Sunday and is expected to miss an undetermined amount of time.
Tagovailoa is 5-2 to win the Heisman at Caesars Sportsbook.
Alabama hosts LSU on Nov. 9. The Crimson Tide had been 10.5-point favorites over the Tigers in early lines. The SuperBook at Westgate Las Vegas took the game off the board after Tagovailoa's injury and has yet to repost a number. Ed Salmons, veteran oddsmaker at the SuperBook, told ESPN that he expects LSU to be the favorite against Alabama if Tagovailoa is out.
Ohio State quarterback Justin Fields is 7-1, and Oregon quarterback Justin Herbert is 25-1 to win the Heisman at Caesars. Clemson quarterback Trevor Lawrence, one of the favorites to start the season, has fallen to 100-1.
This offseason, the SuperBook took 11 bets on Burrow at 200-1, including a $150 wager placed in July that would pay a net $30,000, in addition to two other $100 bets. Burrow is the solo favorite at the SuperBook at 6-5.
"Burrow is the biggest liability of the guys who can win it," John Murray, executive director for the SuperBook, told ESPN. "[The liability] was close to six figures at one point."