It's a wide open field to win the Pac-12, and it reflects in the latest college football playoff odds. No one team is expected to make the playoff with any specific plurality. A quick look at the title odds for each Pac-12 favorite (odds courtesy of Bovada).
Stanford Cardinal (+400) with 4 to 1 odds: Stanford is the current Pac-12 favorite, but they are still not receiving too much respect because the Cardinal seem to always lose two games a season. 4 to 1 seems about right.
USC Trojans (+400) with 4 to 1 odds: USC has the same odds as Stanford, probably because they have a higher ceiling overall. But it seems a little far-fetched that USC will recover that much from a so-so 2015 to make the playoff in one season.
Oregon Ducks (+700) with 7 to 1 odds: Oregon's odds are probably pretty good value. The Ducks will still have one of the most potent offenses in all of college football and it's hard to imagine their defense getting that much worse.
Washington Huskies (+800) with 8 to 1 odds: Washington is up with the other Pac-12 squads with preposterously high odds. The Husky defense figures to be pretty good, but will their offense catch up with the rest of the team to be a playoff contender?
UCLA Bruins (+850) with 8.5 to 1 odds: Low odds for UCLA despite returning Josh Rosen, but the Bruins have their fair assortment of holes they have to address before they can be considered playoff favorites.