2017 NCAA Tournament: Updated odds on the favorites including UNC

Feb 25, 2017; Pittsburgh, PA, USA; North Carolina Tar Heels head coach Roy Williams reacts on the sidelines against the Pittsburgh Panthers during the second half at the Petersen Events Center. The Tar Heels won 85-67. Mandatory Credit: Charles LeClaire-USA TODAY Sports
Feb 25, 2017; Pittsburgh, PA, USA; North Carolina Tar Heels head coach Roy Williams reacts on the sidelines against the Pittsburgh Panthers during the second half at the Petersen Events Center. The Tar Heels won 85-67. Mandatory Credit: Charles LeClaire-USA TODAY Sports /
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The North Carolina Tar Heels are among the favorites to cut down the nets in Phoenix

The 2017 NCAA Tournament officially tips-off on Tuesday night with two of the “First Four” games. The winners will move on to the round of 64 and take on their next opponent.

But the real fun begins on Thursday.

The tournament will see 16 games played as we eliminate the first set of teams. Then it repeats again on Friday with 16 other games that get the tournament down to the round of 32.

More from North Carolina Tar Heels

While technically every team has a shot to win it, there are the heavy favorites at the top.

Duke was the odds on favorite on Selection Sunday, just minutes after the bracket was released to the public. But now they are joined by their rival on Tobacco Road.

As the No. 2 seed in the East Region, Duke is +600 to win the national championship in April according to the latest odds in Las Vegas.

They are tied with the Tar Heels who are also at +600 to win it all as the favorites.

Not far behind the two is No. 1 overall seed Villanova at +750, followed by Kansas at +800 and Kentucky at +850.

Here are the updated odds:

"Duke +600North Carolina +600Villanova +750Kansas +800Kentucky +850Gonzaga +1000Arizona +1200UCLA +1200Louisville +1600Oregon +1800Florida State +2500West Virginia +2500Florida +2800Purdue +2800Baylor +3300Virginia +3300Iowa State +3300SMU +3300Michigan +3300Notre Dame +4000Wisconsin +4000"

To find the odds for every team in the field, visit CBS Sports.

Westgate casino in Las Vegas had the Blue Devils open up at 5/1 and UNC at 6/1 when the field was announced on Selection Sunday.

The odds could change in the coming days, but you get the idea. The bottom line is that the Tar Heels are considered one of the favorites to win it all and at least return to the national championship game.

Check back with Keeping It Heel for more NCAA Tournament coverage as the Tar Heels will open up against Texas Southern on Friday afternoon.