The lowest odds of any playoff combination to feature a Pac-12 team are at +1200. That’s reasonable a Pac-12 team hasn’t made the College Football Playoff since Washington did after the 2016 season. None of the 10 combinations with the lowest odds feature a Pac-12 team. A playoff without Clemson would be the first playoff since the inaugural version in 2014 to not feature the Tigers. You can swap out Clemson for Ohio State in that combination at +450. If you think Georgia and Oklahoma both make the playoff, you can get those two teams along with Alabama and Clemson at +425. Alabama and Georgia both made the playoff at the end of the 2017 season and the Crimson Tide beat the Bulldogs to win the national title.
The Bulldogs are the top challenger to Alabama in the SEC and have been part of a two-SEC team playoff field before. That includes Alabama, Clemson and Ohio State and swaps out Oklahoma for Georgia. No other four-team combination has close to the same betting odds, either. Both Ohio State and Oklahoma have made the playoff four times. Clemson has made the playoff in each of the past six seasons while Alabama has made the final four in six of the seven iterations of the playoff.