Cal football listed with 40:1 odds in Vegas to win the Pac-12

The California Golden Bears currently have listed 40:1 odds in Vegas (with the Westgame LV Superbook) to be the Pac-12 champions this year. That puts Cal pretty solidly behind the frontrunners of USC, Oregon, Stanford, UCLA (all with odds lower than 4 to 1) and the Arizonas (odds lower than 15 to 1). The Bears are very distant in this party to win it all this year.

I do find it odd that Cal has the same odds as Washington, a team that doesn't seem to be a threat to compete for anything this year (new offense, new defense, new pretty much everything). I'd think Cal would be a little bit higher than Washington, but I guess the larger (crazier) Husky fanbase might be a little bit more interested in betting here.

It's also odd that Cal has the same odds as Utah, which you would figure would have a better chance at this--the Utes are a salty team that was in contention for the conference crown and has proven they can play at the level of the most talented teams in their division.

The 40 to 1 odds do signal that there is some faith in the Bears to perform well this season, although the over/under in wins still sticks around five or six in most areas.

Theoreticaly, do you feel confident enough to place money on this bet? And based on the odds for every school below, which bet would you be most interested on taking on besides Cal?

USC 9-5
OREGON 9-4
STANFORD 4/1
UCLA 4/1
ARIZONA ST 7/1
ARIZONA 15/1
CALIFORNIA 40/1
WASHINGTON 40/1
UTAH 40/1
OREGON ST 200/1
WASHINGTON ST 200/1
COLORADO 2000/1