This is Carrie Stroup, reporting for Gambling911.com with your 2009 Oscar Award winners and the payouts for each bet.  I will be reporting throughout the evening as the awards are handed out.

Sportsbook.com offered a whole slew of 2009 Oscar odds and don't forget they currently have odds on Celebrity Apprentice, American Idol and upcoming odds on the 2009 March Madness so Join Today.  Here were a few of the main categories just prior to show time:

Best Supporting Actress: Amy Adams 2/1, Marisa Tomei 18/1, Penelope Cruz even, Taraji P. Henson 2/1, Viola Davis 5/1.

Best Film:  Frost Nixon 25/1, Milk 10/1, Slumdog Millionaire 1/10, The Curious Case of Benjamin Button 6/1, The Reader 20/1

Best Actor:  Brad Pitt 12/1, Frank Langella 8/1, Mickey Rourke 1/3, Richard Jenkins 15/1, Sean Penn even to 2/1.

Best Actress:  Anne Hathaway 4/1, Kate Winslet 1/3, Meryl Streep 3/1, Melissa Leo 18/1, Angelina Jolie 10/1

Best Supporting Actor:  Heath Ledger 1/35, Philip Seymour Hoffman 10/1, Josh Brolin 13/1, Michael Shannon 13/1, Robert Downey Jr. 18/1

I will also be announcing the payouts for other Oscar categories  as they come in.

Best Supporting Actress winner is:  Penelope Cruz even

Best Original Screenplay went to Milk.  This one had odds that were also the even favorite.  So far two favorites have come out on top. 

Best Adapted Screenplay went to the big favorite Slumdog Millionaire, likely to be the start of a streak for this film.   

Wall-E has won for Best Animated Film.  So excited about that one.  This was the favorite to win as well.   

What we've all been waiting for, Best Supporting Actor:  And - surprise - the award goes to Heath Ledger.  He will be missed.   

Danny Boyle has taken the Oscar for Best Director for Slumdog Millionaire.  No surprise here.  He was the big favorite.  

Best Actress went to  Kate Winslet 1/3 - 6th time the charm.

Best Actor - This was the much awaited award with two top contenders, Mickey Rourke and Sean Penn.  The winner is Sean Penn who was listed with nearly 2/1 odds and was not the favorite to win. 

And finally, the Best Film of the year at the 2009 Oscars goes to.... Slumdog Millionaire - the big 1/10 favorite.

Carrie Stroup, Gambling911.com Senior Reporter