College football rankings have been available for about a week now, but I just hadn't gotten around to announcing it. Like my NFL rankings, these will be updated daily. As a reminder, these rankings are based on the betting point spreads and totals, with the goal of reverse engineering an implied betting market power ranking. See this post for more background, or the Methodology page for a more general overview.
The rankings tend to be a bit noisy early in the season. I'm not sure if Oregon would really be favored over Alabama on a neutral site, but that's what the numbers are saying as of today.