How Vegas ranks Final Four teams

— -- LAS VEGAS -- North Carolina is now the 4-5 favorite to win the NCAA tournament at the Westgate Las Vegas SuperBook, as the Tar Heels are the last No. 1 seed standing in the Final Four.

Of course, the NCAA Vegas Rankings had North Carolina as our top-rated team before the Big Dance started and entering the Sweet 16 last week.

After going just 15-16 against the spread in the first round (Providence was rated 2.5 points better than Southern California and that was the closing line, so that's not included), we fared better in the second round at 8-5 ATS (with the Notre Dame, Oklahoma and Texas A&M games being no-plays).

The NCAA Vegas Rankings are 30-25 ATS (54.5 percent) overall.

As always, we encourage readers to use our numbers as a base in creating their own power ratings, tweaking them where they feel we have teams overrated or underrated.

Here are the updated power ratings for the Final Four.

North Carolina routed Indiana 101-86 in the Sweet 16 as a five-point favorite and then beat Notre Dame 88-74 as a 9.5-point favorite in the East Regional final. The Tar Heels were 2-0 ATS on the weekend and earned a full-point upgrade to their power rating. But we didn't increase the rating more, as Notre Dame was covering late in the game and showed that even though the Tar Heels are No. 1, they're still not invincible.

Villanova was arguably the most impressive team over the weekend, routing Miami 92-69 as a four-point favorite and then upsetting the No. 1 overall seed Kansas 64-59 as a two-point underdog. We upgraded them a full two points for their two overachieving performances (plus we felt we should have upgraded them by at least a half-point more last week).

Oklahoma beat Texas A&M 77-63 as a 2.5-point favorite in the Sweet 16 and Oregon 80-68 as a one-point underdog to win the West. Buddy Hield is still the star who can take over a game when he needs to, but the Sooners' supporting cast has also stepped up and helped the team earn a 1.5-point increase in its power rating.

Syracuse rallied to upset Gonzaga 63-60 as a four-point underdog in the Sweet 16 and then did it again against Virginia 68-62 as an eight-point underdog after trailing by 14 at halftime. The Orange have done very well for a team that many didn't think deserved to be in the NCAA field; we had them as the 35th-rated team heading into the tournament. The two upsets earned the Orange a two-point increase, and we're not sure it shouldn't be higher.

Value bets for Final Four

Villanova -2 vs. Oklahoma

The Vegas Ranks have Villanova as three points better (65.5-62.5) than Oklahoma on a neutral court, and that's what we get in the Final Four. When this game first went up on the betting boards in Las Vegas, Villanova opened as a 1.5-point favorite; the line is moving toward our ratings.

Syracuse +9 vs. North Carolina

The NCAA Vegas Ranks have North Carolina as nine points better (68-59) than Syracuse. The line opened North Carolina -9.5 at most books and has moved to our nine-point line. It's a close call (and you can decide if you don't think we upgraded North Carolina enough for its 2-0 ATS mark over the weekend or if we upgraded Syracuse too much). Basically, if this line gets bet up to 10, we'd say the play would definitely be on Syracuse. If it continues to drop, the value might flip to North Carolina.