Oscar Vegas Odds: Fuggetaboutit

Unlike Super Bowl weekend in Vegas, there won't be any betting on the Oscars.  Oscar Vegas odds are nowhere to be found.  This is because it is illegal to place such bets in the Sin City....That itself is a sin, we here at Gambling911.com believe.

But alas, the online gambling websites are offering Oscar betting aplenty.  All the major categories are represented.  Some of the more "obscure" categories are also featured.  BetOnline, for example, offers odds on "Best Art Direction" and "Best Short Film".

William Arnold of the Seattle Post Intelligencer writes:

If the Vegas pundits are to be believed, the amount of money wagered on the Oscars -- much of it in office pools, mostly by people who have not actually seen the movies -- has risen more than 300 percent over the past decade. Only the Super Bowl and Kentucky Derby draw more action.

And this is very true, as observed by Gambling911.com.

Don't be fooled by reports that this year's Oscars are drawing very little action.  That might be the case in Las Vegas.  It's not the case online and Gambling911.com has reported brisk traffic figures in recent days, all people searching for Oscar betting opportunities. 

"Across the top six Oscar categories Bodog expects to receive thousands of wagers," Richard Gardner, of the gambling Web site Bodog told ABC News.  "The Oscars have always been Bodog's most popular entertainment odds. Not even an entire season of 'American Idol' odds can hold a candle to the popularity of the Oscars."

"All of the bookmakers have a sense of what the other big shops are doing," said Harold Klein, bookmaker for BetCRIS.com. "It wouldn't be beneficial to take a totally different line from the competition, but we try to get action on all the sides."

Observers of the Oscars contend that academy members like certain types of films (sweeping epics, Westerns, anything about the Holocaust or anything involving Clint Eastwood) and certain types of performances (anything that requires a dramatic change in physical appearance, or anything involving Clint Eastwood).

One "can make an argument that they pick the same kinds of movies over and over," Peter Travers, film critic for Rolling Stone, told ABC News.

But, he said, the conventional wisdom may be upturned this year.

No Oscars Would Mean No Pay Day for Thousands"The academy has a reputation for not liking bloody movies, but this year's two hottest contenders for best picture, 'No Country for Old Men' and 'There Will Be Blood,' are both pretty bloody. It is possible they might split, and the award will go to something small like 'Juno,'" he said.

A win by Juno would be great.  BetCRIS.com pays out $400 for every $100 bet.  It should be aptly pointed out that No Country for Old Men has seen its odds fall from -350 to the current -285 at press time.

(how to bet the Oscars: If you were betting -285 on No Country for Old Men to win, you would have to wager $2.85 to win $1.00 or $285 to win $100.  Should the film get the Oscar, you will receive your win PLUS the initial bet of either $2.85 or $285.  The risk is much higher due to the "favorite" status represented by a minus - sign.  For any odds that have a + sign in front of them such as Juno at +400, the payout would be $400 for every $100 bet.  Hence, the risk is much lower, and the reward much greater).   

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Christopher Costigan, Gambling911.com Publisher CCostigan@CostiganMedia.com

Originally published February 23, 2008 11:43 pm EST
 

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