Chances of winning it all?

Question:in the paper for the ncaa tournament, it will always have the probability of each team winning, example

floirda 1/3
ohio state 1/4
north carolina 1/5
kansas 1/2.5
.
... * i made these up just for an example

how do they find these probabilities

Answers:

Who will take the reigns of the Suns offense once Steve Nash retires?

They consider many factors such as head to head records, regular season records, postseason experience, home court advantage, injuries, player matchups, coaching styles, number of games played in the past few days, etc. Sometimes the experts guess is as good as your's

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