Also for the non bettors out there that may not truly understand odds, I think it should be mentioned. My gambling group of buddies (fyi 2 have WSOP bracelets) look at odds like this:
Even money to +150 sweet spot
+300 and +750 "Long shots"
+750 to +1250 "donations"
+1250 and up "Lotto tickets"
I think the trepidation I personally have is this isn't a game where Vegas power rankings create a line, so betting odds have less meaning in my opinion.
I've heard plenty of smart Vegas people say Sportsbook hate putting up odds for NFL Draft picks for similar reason, because there is no exact science to it.
It is all just information trading at the end of the day.
Likely why we saw that crazy jump of Alabama to -3000 YES to make the playoffs before last nights rankings were publicly announced.
Vegas can use past committees to have an educated understanding for what this group of people will do, but there is no way to know for sure that this committee group will abide by what the past committees logic was for thier final rankings in years past.
I believe you could argue that already seems to be the case with how Yurachek answered the questions about re ranking all (25) teams on Sunday, even those who don't play at all.
Lastly, there has never been a circumstance where H2H may be the prevailing factor for the final at large spot in the (12) team format, or likely even the (4) team format.
It is fascinating to me personally how Vegas comes up with the lines for this market, and if Miami does get in over ND then there will be some uncomfortable conversations in Vegas sports betting boardrooms because they will have got it very wrong.