By Julian Dickinson

updated 3:38 p.m. ET March 4, 2005

It’s official: March has arrived. Bring on the Madness.

Bracketville is still a few miles down the road and there are conference tourneys still to come and bubble teams to contemplate. But you don’t have to wait for the office pool before you start thinking about the NCAA Tournament.

Futures odds are already out at some sportsbooks and there’s some fat cash on the table for those who can call the winner before the battle begins.

That’s easier said than done in a field of 65 teams from 32 different conferences, but the payoff definitely makes it a tempting prospect. Even Top 10 teams like UConn and Louisville are paying better than +2000.

But is it worth the gamble?

“It can be (worth it) if you really think you’re getting something,” says Covers Expert Dave Malinsky. “We don’t usually play them, but occasionally we see a team floating around at 20 or 30-1 that has a chance to get to the Final Four — and that’s all you really want.”

Oddsmakers have North Carolina (+275) as the early favorite, closely followed by Illinois at +285. Prices like these hardly make it worth tying up your cash for a month, but there is some decent value in the farrago of tourney futures.

As the defending champ and a team peaking at the right time, Connecticut jumps out as one of the most valuable picks. Of course, this isn’t the same team without graduated stars Emeka Okafor and Ben Gordon, but it is certainly one that has the tools to beat any team in the country. At +2000, the potential payoff is enough to cover an entire baseball season of bad bets.

But picking a winner in a tournament like March Madness before the brackets are even released is not an exact science. There are, however, certain characteristics in a team that will separate the dancers from the wallflowers when the music starts.

“Start with defense,” says Malinsky. “Shooting can be inconsistent, especially in high-pressure games in big arenas, but defense can always bail you out.”

Malinsky also recommends looking at quality point guards, good free throw shooters and especially teams that performed well in close games because after the initial rounds, most games are going to come down the wire.

That criteria doesn’t bode well for teams like Oklahoma State (+900) which is 0-2 in games decided by five points or less, and Pittsburgh (+3200), which has won only five of its 10 close games this season.

Kentucky (+1800), on the other hand, is 5-0 in close games and Washington (+2400) is 4-0 when the heat is on in the final seconds.

March Madness is scheduled to begin March 15 and final selections will be decided March 13. Futures odds are likely to change frequently as the Tournament approaches.

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