Market Failures

Via Henry Aaron, odds on winning the Eastern Conference in the NBA. Naturally enough, the Wizards are longshots. Much less naturally, the bettors are giving the Magic, Knicks, and Celtics better odds and have the Wizards even with the 76ers. Don't these guys know anything? The Boston, New York, and Philadelphia may all be higher-profile teams, but they're terrible to the Wiz' mediocre.