Vegas Odds Update #1: UNC No Longer the Title Favorite
Posted by rtmsf on December 16th, 2011We’re a little over a month into the 2011-12 season and most teams have played somewhere in the range of eight to ten games. That’s enough time to get a decent sense as to teams’ potential for the rest of the season, rather than relying on little more than preseason guesswork and conjecture. At the end of October, we went through an exercise analyzing Vegas futures odds and came to the conclusion that North Carolina and Kentucky were the odds-on favorites to cut down the nets next April (a normalized combined total chance of 20%). As of December 15, Vegas still thinks similarly, although with two key differences — first, Kentucky, at +300 and a 14.6% normalized chance to win the title, has moved ahead of North Carolina, who still sits at +350 and now has a 13.0% chance. Secondly, the two favorites have a combined 27.6% chance to win it all according to the oddsmakers, which basically means that if you played the NCAA Tournament four times, either UNC or UK would win it once.
Here are your preseason odds for the sake of reference. Note that these odds came from The Greek and this discussion is for entertainment purposes only. The table below provides the futures odds (e.g., +300), which converts to a percentage chance to win (e.g., 25.0%), but also a normalized change to win if all chances added up to 100%. We also provide a simple up (blue)/down (gray)/even (white) stock measurement based on whether a team’s odds profile has risen or fallen since October. We provide some analysis of this table after the jump.