In Beta 1 of the .NET Framework, the ConnectionString property of 
the OleDbConnection could be set to a string that included:
   "Provider = MSDASQL;"
This is no longer in Beta 2 (as documented in the help page for
the OleDbConnection.ConnectionString property).

The WWW page at:

http://msdn.microsoft.com/downloads/default.asp?url=/downloads/sample.asp?url=/msdn-files/027/001/668/msdncompositedoc.xml

provides Beta 1 of an ODBC .NET Data 
Provider.  It says: "The ODBC .NET Data Provider is an add-on component
to the .NET Framework SDK Beta 2. It provides access to native ODBC 
drivers the same way the OLE DB .NET Data Provider provides access to 
native OLE DB providers. Although the ODBC .NET Data Provider is 
intended to work with all compliant ODBC drivers, it has been tested 
with only the following drivers:
o Microsoft SQL ODBC Driver
o Microsoft ODBC Driver for Oracle
o Microsoft Jet ODBC Driver
NOTE: If the .NET Framework SDK Beta 2 (which is included as part of 
VS.NET Beta 2) is not installed, the setup for this download will fail.
As part of the setup for this download, the asembly containing the 
System.Data.Odbc namespace is added to the Global Assembly Cache by 
using the Gacutil.exe that is part of the .NET Framework SDK Beta 2.
The ODBC .NET Data Provider also requires the installation of Microsoft
Data Access Component 2.6 or later."  Note: there is also a 
microsoft.public.dotnet.framework.odbcnet newsgroup. 

This WWW page has a download link for Beta 1 of the ODBC .NET Data
Provider.  
Once you have downloaded this, you can access the System.Data.Odbc 
namespace.  This download does not seem to add any files to the help 
system, and so this namespace is not documented in the help system.

To use System.Data.Odbc, in VS.NET you will have to add a reference to
the assembly for System.Data.Odbc.

In order to use ODBC, you will need to install an ODBC driver.  For 
example, I installed the MyODBC driver on to the PC from which I was 
running C#.