Allerdice was born in Indianapolis, Indiana in 1887. He enrolled at the University of Michigan and played at the right halfback position for coach Fielding H. Yost's Michigan Wolverines football teams from 1907 to 1909. Allerdice played on offense and defense for Michigan, and he also handled place-kicking and punting responsibilities. He was Michigan's leading scorer in 1908 with 64 points in seven games, and again in 1909 with 51 points in seven games. In 1908, he scored all of Michigan's points a 12–6 win over Notre Dame and a 10–6 win over Ohio State. He scored a career-high 19 points (two touchdowns, six extra points, and a field goal) in a 1909 victory over Syracuse. Allerdice won praise from the press for playing through injuries, playing the 1908 Penn game with a broken collarbone