If you don’t play in the conference chip game you get a bye from that game.If you win you get a bye, right? And if you lose but look good you'll likely be ranked above the third place team and get home field. The benefits are clear. You want to make the title game.
Theres going to more than 2 teams from both the SEC and B1G that make the playoffs. Being the 3rd team has its advantages
The benefits aren’t clear