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The College Football Playoff field is set. No.1 Clemson will take on No. 4 Alabama -- the clear No. 4 team in the country as a nonconference champion, according to selection committee chair Kirby Hocutt -- in the Sugar Bowl. No. 2 Oklahoma will face No. 3 Georgia in the Rose Bowl. 

Now that we know which teams are playing and where, it's time to set the early odds on who will win. According to SportsLine's Stephen Oh, Alabama has a 65 percent chance of beating Clemson by a projected score of 23-19. Meanwhile, Georgia has a mere 51 percent chance of beating Oklahoma by a projected score of 28-27. 

Alabama is then given a 70 percent chance to beat Georgia by a projected score of 23-17. 

Overall, Sportsline gives the Tide a 46 percent chance of winning the playoff with the Bulldogs coming in with a 20 percent chance. Clemson and Oklahoma are given a 17 percent chance. 

However, the Tide and Sooners are one-point and three-point favorites, respectively, according to the WestGate superbook. Remember, this marks the first time in the playoff era that two teams from the same conference were chosen among the final four. 

Sportsline projected earlier that Alabama would be a three-point favorite over Ohio State, the No. 5 team left out of the playoff, if the two were to meet on a neutral field.