LaMarr Woodley is a coward who doesn't pay off his bets when his alma mater gets smoked by its rival ... so says Beanie Wells.
The ex-Ohio State star has become pals with the former Michigan stud -- and tells TMZ Sports the two have made a bet on the big game for years -- and will continue to do so this weekend.
Yet Beanie says Woodley NEVER pays up -- and given that OSU has won the last 6 meetings between the two ... the debt is HEAVY.