Everyone will be betting the Oscars but it's not just the usual categories one can wager on.  This year, Sportsbook.com is offering a wide assortment of 2009 Oscar betting propositions.

What type of betting propositions you might be asking yourselves. 

You can bet on Who each Oscar winner will thank first, with God and/or Family being the favorite for most categories. 

There are gown designer propositions.  You read that right.

Will Kate Winslet be wearing a dress designed by Armani Prive?  "No" pays $40 for every $10 bet while "Yes" requires a $70 bet to win $10.

Will Angelina Jolie be wearing a dress designed by Ralph Lauren?  Bet the "No" for $10 and you could walk off with your own reward:  $27.50.

"Personally, I like the odds on dress color," says Payton O'Brien of Gambling911.com.  "If Angelina Jolie shows up in a black dress you win $140 for every $100 bet."

So far, the dress color odds are only being offered for Jolie.

Then there's the crying odds. 

"The best actress winners are favorites to shed a tear while the men are favorites not to," O'Brien says.

And what would a proposition bet be without the Over/Under offerings?

Sportsbook has a few.  Will The Dark Knight receive Over or Under 3 ½ Oscars?  Will Slumdog Millionaire receive Over or Under 4 ½ Oscars?  Will The Curious Case of Benjamin Button receive Over or Under 4 ½ Oscars?

Slumdog Millionaire is a favorite to win more Academy Awards than The Curious Case of Benjamin Button, the later of which would pay out $15.50 for every $10 bet. 

Jordan Bach, Gambling911.com