Oddsmakers take a large variety of factors into consideration when setting (and adjusting) futures odds to win March Madness. A large part of those considerations includes any team’s performance and makeup from the previous season. For example, win/loss record, the previous season’s NCAA tournament result, and personnel changes such as players that have left the team due to declaring for the NBA, having transferred, injury, and more. In addition to performance and roster considerations from the previous season, bookies can also sometimes adjust NCAA Tournament odds when team schedules are released. This is due to taking into account factors such as strength of schedule, non-conference opponents and tournaments, and key home and away game locations.
Regardless of whatever Vegas odds March Madness gives a team for futures, it is important to remember that March Madness is called March Madness for a reason. No team is safe at any point in the tournament due to the single-elimination structure of the Big Dance. Each season there are significant upsets, Cinderella stories, buzzer beaters, and some of the craziest endings in sports history. As such, think carefully before placing your bets, and above all, have fun doing so.