NCAA Tournament 2012: Updated Championship Odds for Every Team Left

Odds are set to be shattered.

Already twice in the 2012 NCAA Tournament, teams with the probability of advancing equal to that of lightning striking an elephant and it transforming into a pink flamingo have pulled off the impossible.  15-seeds Lehigh and Norfolk State shocked Duke, Missouri and the world in the round of 64, and their unforeseeable victories are just the beginning of yet another March Madness Cinderella story.

Here are the updated championship odds for every team still breathing:

23. West No. 9 Saint Louis

Too many challenges still stand in the Billikens' way to make a championship run. Their win over Memphis was nice, but the Tigers aren’t on the same level as Michigan State, Louisville and Marquette—teams Saint Louis will be forced to KO just to reach the Final Four.

They aren’t nearly talented enough to pull it off.

Update: Saint Louis fell to Michigan State 65-61 in the round of 32 on Sunday.

Championship Odds: Zero percent

22. Midwest No. 8 Creighton

Thanks to the referees, Creighton advanced past Alabama without Doug McDermott blowing up. If he goes cold again, though, they’re done.

It will take a heroic effort by McDermott for the Blue Jays to even dream of a national title.

Update: McDermott scored 20 points against the Tar Heels, but it wasn't enough as North Carolina eliminated Creighton 87-73.

Championship Odds: Zero percent

21. West No. 15 Norfolk State

Norfolk State ruined even more brackets than Lehigh. Despite their shocking victory, their championship odds haven’t raised much.

The Spartans have proven their scoring ability, but their consistency will be put the test.

Update: Norfolk State's Cinderella story ended vs. Florida as the Gator chomped them 84-50.

Championship Odds: Zero percent

20. Midwest No. 12 USF

And the Bulls were forced to play their way into the tournament…USF definitely looks like they belong after coming off of a dominant W over Temple.

Many analysts are pegging USF as the Cinderella team of the year.

Update: So much for that.  Ohio lassoed the Bulls 62-56 in the round of 32.

Championship Odds: Zero percent 

19. South No. 15 Lehigh

The team that made America put a lighter to their brackets with a smile. Lehigh isn’t interested in their Cinderella plot taking place over the course of just a single weekend. C.J. McCollum will need to be like Mike for the Mountain Hawks to continue their run much longer, though.

Sorry; they’ll need more than one miracle to pull off a George Mason.

Update: And the dream is over.  Lehigh fell to Xavier 70-58 on Sunday night.

Championship Odds: Zero percent 

18. Midwest No. 10 Purdue

Purdue barely beat Saint Mary’s. Those five words should tell you something about the Boilermakers' chances at defeating the tournament’s top teams.

Purdue is prone to tourney collapses, and they aren’t even as talented as they've been in years past.

Update: They nearly pulled it off, but the Boilermakers couldn't sink a shot at the buzzer as Kansas advances by the score of 63-60.

Championship Odds: Zero percent

17. East No. 3 Florida State

Florida State hasn’t lost a game since February, but it hasn't dominated an opponent since then either. The Seminoles continue to come up big in close games, but they’re magic is running out.

Thanks to Fab Melo’s ineligibility, FSU’s path to the Final Four is easier, but it still has a long, brutal road ahead before it cuts down a second tournament’s nets. 

Update: Florida State was upset on Sunday night by Cincinnati 62-56 ending their streak.

Championship Odds: Zero percent

16. Midwest No. 13 Ohio

Ohio surprised the nation by knocking off Michigan. And while a Sweet 16 berth is possible given their second-round matchup, anything past that would be absolutely jaw-dropping.

Championship Odds: Less than one percent

The Bobcats won’t be making noise much longer.

15. Midwest No. 11 NC State

NC State showed their ability to increase their level of play with their backs against the wall in the ACC Tournament. And in the Big Dance, they’ve continued to do so, upsetting San Diego State and Georgetown.

Championship Odds: One percent

The Wolfpack are hot, but not hot enough just yet to be considered serious contenders.

14. West No. 7 Florida

Bradley Beal and company were on another level than Virginia in their first game of the tournament. Thanks to Norfolk State, Florida is in position to stay scorching on its way to Phoenix.

Championship Odds: One percent

The Gators defense is still too poor for them to pull off a string of upsets.

13. South No. 10 Xavier

Duke is out of Tu Holloway and company’s Final Four path, but a pair of juggernauts still remain. Getting past confident Mountain Hawks will be tough enough, let alone Baylor and Kentucky waiting in the wings.

Championship Odds: One percent

The gangsters in the locker room better be packing plenty of on-court heat if they want to make it out of the South.

12. East No. 6 Cincinnati

Cincinnati looked impressive in their win over Texas. Not impressive enough, though, to scare the beasts of the East.

Championship Odds: One percent

No matter how awesome it'd be for the Bearcats to face off against Xavier in the title game, it unfortunately won’t happen.

11. South No. 4 Indiana

Despite their high seeding, the fact that the Hoosiers are still alive is a surprise to many analysts. Their reward for escaping from VCU’s Final Four ambitions by the skin of their teeth: the privilege of facing off against the most talented squad in the nation.

Championship Odds: One percent

Cody Zeller will have to put the team on his back while fending off Anthony Davis just get to the Elite Eight—not an easy task.

10. West No. 4 Louisville

Louisville was a favorite to get upset, but the Cardinals are still soaring after the opening weekend. If they upset Michigan State, their odds of advancing even further will skyrocket.

Championship Odds: Two percent

That if is a big one, though.

9. East No. 4 Wisconsin

The Badgers showed their ceiling taking care of business vs. Vandy. Up against a limping Syracuse squad, a Wisconsin win would be anything but astonishing.

Championship Odds: Two percent

Wisconsin is a solid team, but not nearly top-heavy enough to take home a national title.

8. East No. 1 Syracuse

Even Fab Melo doesn’t need a calculator to figure out that the Orange are against the odds without their seven-footer. While a Final Four berth wouldn’t be shocking, anything past that would be.

Championship Odds: Six percent

Syracuse is an entirely different team without Melo.

7. West No. 3 Marquette

Marquette exposed BYU and outran Murray State, so they’ll enter the Sweet 16 with plenty of momentum. Missouri’s elimination doesn’t hurt their championship odds either.

Championship Odds: Six percent

The Golden Eagles are still a team with a history of choke jobs while Michigan State is a team with an addiction to overachieving, so sneaking into the Final Four will be difficult enough.

6. South No. 3 Baylor

No one in the nation is a bigger Lehigh fan than the Bears. Their New Orleans dreams have gotten much more realistic since the Big Dance has begun.

Championship Odds: Six percent

If anyone boasts the athleticism to knock off the Wildcats early, it’s the team in the neon green.

5. East No. 2 Ohio State

Without Fab Melo suiting up for the Cuse, OSU is now the Final Four favorite in the East.  Gonzaga slaughtered West Virginia, but it was no match for the Buckeyes, who don’t look like the same team that fell in the Big Ten Tournament.

Championship Odds: Eight percent

Jared Sullinger and company will need to pull off a couple of upsets, but they’re more than talented enough to be the last ones standing.

4. Midwest No. 2 Kansas

Thomas Robinson is arguably the best player in the nation. His teammates will have to overachieve for the Jayhawks to cut down the nets, though.

Championship Odds: 12 percent

KU is the top two-seed in the tournament, but they’re prone to choking.

3. West No. 1 Michigan State

The Norfolk State Spartans stunner over Missouri ironically aided the Michigan State Spartans more than any other team in the tournament. Now that the team favored to knock off Draymond Green and company is watching the Big Dance with the rest of the world, Michigan State is without a doubt the favorite to rep the West in the Final Four.

Championship Odds: 13 percent

It’s difficult to imagine Tom Izzo allowing his team to have a letdown to a lesser opponent, but do they possess the ammo to kill the Wildcats?

2. Midwest No. 1 North Carolina

UNC’s rotation features too many future NBA first-round prospects to not be favored to travel south to New Orleans. Anything less than cutting down the nets will be a huge disappointment for Roy Williams’ crew.

Championship Odds: 15 percent

As long as they take care of Creighton, not much else is in the Tar Heels’ way between them and Kansas.

1. South No. 1 Kentucky

Entering the NCAA Tournament as the consensus championship favorites, John Calipari’s crew has done exactly what they’ve been expected to do—convincingly eliminate all opposition in their path. With the ousting of No. 2 Duke, Kentucky’s route back to the Final Four got significantly less obstacle-laden.

Championship Odds: 20 percent

Anything less than a Final Four berth would be stunning.

David Daniels is a featured columnist at Bleacher Report and a syndicated writer.

Follow @TheRealDDaniels