Las Vegas oddsmakers don't know EVERYTHING. But they do know a bunch of things. And at the very least, the betting lines they set in advance of games can be a good barometer for what a reasonable person could expect (not necessarily what will happen).
So what does Vegas have to say about the Syracuse Orange in advance of the NCAA Tournament?
First, SU's opening round game against Dayton. This one could end up trending in the Orange's favor later in the week, but right now, the Dayton Flyers open as a slim 1.5-point favorite. National data from ESPN's Tournament Challenge also paint this one as a big of a pick'em, with the country split nearly even on the two teams. "Wonderful."
And if they get past Dayton, can Syracuse win the whole thing? We'll see (unlikely), but Vegas has them at 150-to-1 odds right now (already better than the initial 250-to-1). That number's on par with that of Providence, Oregon State, Butler and Vanderbilt (???). Kansas, North Carolina and Michigan State are unsurprisingly the favored teams in the field so far at odds of 5-to-1 or better.
Do with this what you will. In any case, Syracuse has a long road ahead if they're going to make you any money on a long-term (championship) wager.