Both the Indianapolis Colts and Houston Texans have identical records. The Colts played a third place schedule while the Texans played a fourth place schedule. Both reside in the AFC South and play the same opponents within the division. The Texans will be trotting out a rookie quarterback while the Colts will be defending their home turf. Oh, and although a lot of time has passed, the Colts beat the Texans back in week two.
When you see all of that on paper it is hard to imagine how the Colts are underdogs.