Vegas is a funny place. While the wily bookies of Sin City are clearly quite good at setting bets for individual games, sometimes they set up futures in strange ways. To illustrate this point, I'll compare the top ten teams according to College Ball Blog's preseason index with each team's respective odds as set by Wallstreet.com.
1. Wake Forest: 15-1 2. Kansas: 15-1 3. UNC: 10-1 4. Georgia Tech: 20-1 5. Illinois: 15-1 6. Syracuse: 20-1 7. UConn: 12-1 8. Oklahoma State: 20-1 9. Arizona: 20-1 10. Kentucky: 12-1 10. Duke: 10-1
The sucker's bet award goes to the Duke Blue Devils. While they will certainly be a good team, they did lose Luol Deng and Shaun Livingston and Chris "can you believe he's playing with hurt ribs" Duhon to the NBA. 10-1? No way.
I think KU and Wake are the smart bets here. Maybe at 20-1, GT is good too.
Is Vegas making foolish odds here, or do they simply think that ignorant bettors will be likely to place wagers on glamorous teams from East of the Mississippi? Knowing Vegas, the answer is likely the latter.