Wichita State - first team to enter the NCAA tournament undefeated in almost 25 years: The hardest road for any of the top seeds. Theres the potential third-round game with No. 8 seed Kentucky a team that took No. 1 seed Florida to the wire a few hours before and probably should have been a No. 5 seed. Get by John Calipari and Rick Pitinos Louisville [4 seed] team likely awaits. And lets say the Shockers manage to stay upright and get to the Elite Eight? Its easy sailing there, just a potential game against last years runner-up Michigan [2 seed] or some team coached by a guy named Krzyzewski [Duke 3 seed]
Arizona wins the West. Biggest challenger in that region is either Creighton or SDSU, and the MWC performs terribly in the NCAAs.
I'll say this much: Oklahoma State is this year's most overrated "underperforming power conference team that is talented and an 8/9 seed".
Gonzaga is way undervalued. They have much more of a shot against OSU than most are giving them credit for.
I don't. I think OSU is better. But their chance of winning is <65%. Therefore overvalued
I think you are reading too much into the 65% figure. For instance, if a game existed in which there was a distinct statistical probability that the outcome would turn out A 90% of the time and B the remainder, it would make sense to see, out of a large population of bettors, nearly 100% of the bettors picking A.
Thus, say Oklahoma State has a 55% chance of winning the game, it is reasonable to see 65% of bettors taking Oklahoma State (in fact, it is reasonable to see even more than 65% taking Oklahoma State).