Ohio State's postseason matchup is set as the four-seed. It will play the No. 1 seed Alabama in the Sugar Bowl, which is a home away from home for the Crimson Tide. Vegas' odds-makers right now think this translates to a betting line of Alabama -9 or -10.
Urban Meyer is undefeated as an underdog while head coach of Ohio State. Keeping that streak going would require perhaps the best coaching effort of his three-year tenure (or maybe overall, dating to his days at Bowling Green).
EDIT: In the other semifinal, No. 2 Oregon will be favored by 8.5 points over the No. 3 Florida State Seminoles, while the line in the Ohio State-Alabama game has moved to -9.5. One would think the Buckeyes would have slightly shorter odds against the Ducks.