Smith's odds of taking home the award are 4-to-5. Smith is averaging 25 points and three steals per game in the NCAA Tournament, and is just shy of 19 points per game for the season. He has led the Cardinals in scoring in all five tournament games, including a 31-point outburst against Oregon in the Sweet 16.
Here are some of the other top contenders for the award:
Trey Burke, Michigan
Odds of winning: 15-to-4
Burke struggled to score against South Dakota State and Syracuse, totaling 13 points in those two contests. However, the sophomore guard had big games against VCU and Florida, and played a dominant game against Kansas. Burke finished with 23 points and 10 assists in the Wolverines' win over the top-seeded Jayhawks, including a game-tying three-pointer at the end of regulation to send the game into overtime.
Peyton Siva, Louisville
Odds of winning: 7-to-1
Siva had a big game against Duke in the Elite Eight, scoring 16 points and dishing out four assists while making a variety of highlight-reel plays. However, he lacks in the overall numbers department in tournament games, averaging 8.6 points and 4.6 assists. Siva was one-for-nine from the floor in the Cardinals' victory over Wichita State on Saturday.
Mitch McGary, Michigan
Odds of winning: 12-to-1
McGary averaged 6.2 points per game entering the NCAA Tournament, but has exploded for 16 per contest in the Big Dance, including a career-high 25 points -- and 14 rebounds -- against Kansas in the Sweet 16. The freshman big man has recorded three double-doubles and narrowly missed out on two others during the tournament.
Gorgui Dieng, Louisville
Odds of winning: 18-to-1
Dieng's candidacy took a big hit against Wichita State, a game in which he did not score a single point. In the four prior tournament games, Dieng averaged 11 points and 7.5 rebounds per game. Dieng recorded a double-double in the Elite Eight against Duke, scoring 14 points and grabbing 11 boards. Dieng is just four-of-12 from the free throw line in the tournament.
Tim Hardaway Jr., Michigan
Odds of winning: 20-to-1
Hardaway started the tournament hot, going eight-of-12 from beyond the three-point arc and finishing with 35 total points in wins over South Dakota State and VCU. Since then, Hardaway is five-of-18 from long range with 32 points in three games.
Nik Stauskas, Michigan
Odds of winning: 25-to-1
Stauskas is the Wolverines' third-leading scorer, averaging 11.2 points per game. He was blanked in Michigan's win over Syracuse on Saturday, but scored 22 points to lead his team to a win over Florida in the Elite Eight while making all six of his three-point attempts. Stauskas is eight-of-22 from three-point range in the tournament.