Since 2001, the Famous Idaho Potato Bowl has given an automatic bid to a team from the Western Athletic Conference. However, this was the final year of the bid, as the WAC ceased sponsorship of football following the season. Coincidentally, the WAC's bid was given after the Big West Conference ceased sponsoring football following the 2000 game. The Mid-American Conference has held their automatic bid since 2010, following the Toronto-based International Bowl ceasing operations. This was the first meeting between these two teams.
Toledo
In one of the more successful seasons in the conference's history, the Rockets were one of the MAC's more successful teams, finishing with a 6–2 conference record, good for a tie for second place in the West Division. After the season, the Rockets accepted their invitation to the 2012 Famous Idaho Potato Bowl. This would be the Rockets' first Famous Idaho Potato Bowl.
Utah State
The Aggies came off of one of their most successful seasons in school history, finishing 6–0 in WAC play and winning the conference's final outright championship. In fact, the Aggies' only two losses of the season by a margin of no more than three points. After defeating the Idaho Vandals to finish their regular season record at 10–2, the Aggies accepted the fourth invitation of the 2012–13 NCAA Bowl season to the 2012 Famous Idaho Potato Bowl. This would be the Aggies' third Famous Idaho Potato Bowl, following the inaugural 1997 game against the Cincinnati Bearcats as well as the 2011 game against the Ohio Bobcats, both of which the Aggies lost. It would also be the Aggies' final game as a member of the WAC before they moved to the Mountain West Conference in 2013.
Game summary
;First quarter Toledo got the ball to start the game and executed a 5-play, 49-yard drive that resulted in a 37-yard field goal by Jeremiah Detmer for the first points of the game. On the ensuing Utah State drive, the Aggies managed one first down prior to punting away after two plays for losses of yardage as well as an illegal substitution penalty. Later in the quarter, Utah State got the ball back and executed a drive that culminated with a 62-yard rushing touchdown by Chuckie Keeton. That was the last score of the quarter. ;Second quarter The second quarter began with a 9-play, 50-yard drive for Toledo that was capped off with a 37-yard field goal by Detmer, his second of the game from that distance. After exchanging punts, Utah State executed an 86-yard drive in the final 1:39 that resulted in a successful 27-yard field goal by Nick Diaz. ;Third quarter Since Toledo got the ball at the start of the game, Utah State got possession at the beginning of the second half. Like Toledo did on the first drive of the first half, Utah State marched down the field but settled for a field goal after an 8-play, 45-yard drive. The ensuing Toledo drive ended with an interception, but Utah State failed to capitalize and ended up punting it back to Toledo. Heading into the fourth quarter, the score remained 13–6 Utah State. ;Fourth quarter Toledo began the quarter by putting together a 14-play, 74-yard drive. Since they were down by seven points, however, they decided to go for it on fourth and one at the Utah State nine-yard line, but were stopped short by the Utah State defense. After a Utah State fumble on their ensuing possession, Toledo was able to score on a 29-yard field goal by Detmer. The next three drives for Utah State all ended the same way, a Kerwynn Williams touchdown run. In the course of three minutes, Williams ran for three touchdowns to put Utah State on top 41-15, which would end up being the final score.
Scoring summary
Statistics
;Passing
Toledo- Austin Dantin: 12/21, 132 yards, 0 TD, 2 INT
