81st Annual Academy Awards Odds Released by betED.com

betED.com is the latest in a series of online gambling websites that has released 81^st Annual Academy Awards odds.

"Nearly all will," expressed Payton O'Brien, Senior Editor of the Gambling911.com website, which is widely considered to be the world's leader in gambling odds news.  "The Academy Awards ranks as the third most bet on single day event outside of the Super Bowl and the Kentucky Derby."

betED.com - which gives back 50 cash back on any first bet placed with the company if it turns out to be a winner - has posted odds for the Academy Awards - one of the most popular prop betting events each year - and Slumdog Millionaire is a big favorite to win the Oscar for Best Picture.

The story of a teenaged orphan who finds himself on the verge of winning India's version of Who Wants To Be A Millionaire, is a -350 moneyline favorite to win the top prize in betED.com Oscar betting odds.  One would have to bet $35 to win $10 for Slumdog Millionaire.  There is some value in that, however, as experts believe this film is a virtual "lock".  Remember that the $35 bet along with the $10 win is returned should Slumdog Millionaire walk off with the Oscar.

The 81^st Annual Academy Awards odds for best picture also include The Curious Case of Benjamin Button is next at +300, followed by Milk at +500, Frost/Nixon at +900, and The Reader at +1100.

Mickey Rourke, who's had a successful comeback this year with his critically acclaimed performance in The Wrestler, is the top pick to win the Best Actor Oscar at -150 odds.

Sean Penn isn't far back at +120 odds for his portrayal of Harvey Milk, the first openly gay man to be elected to public office in California, in Gus Van Sant's biopic Milk.  

Frank Langella (+600) for Frost/Nixon, Brad Pitt (+900) for The Curious Case of Benjamin Button and Richard Jenkins (+900) for The Reader, round out the Best Actor nominees.

Kate Winslet, for The Reader, is the favorite to win the Best Actress Oscar, at -170 odds.

Anne Hathaway is at +175 for her performance in Rachel Getting Married. Meryl Streep is +300 for Doubt, and Melissa Leo, for Frozen River, and Angelina Jolie, for Changeling, are both +900.

The late Heath Ledger is the overwhelming favorite to win the Oscar for Best Supporting Actor, at -2500 odds, for his chilling portrayal of The Joker in The Dark Knight.

Other nominees are Philip Seymour Hoffman (+1200), Josh Brolin and Michael Shannon (both +1500), and Robert Downey Jr. (+2800).

Penelope Cruz is the favorite to win Best Supporting Actress (-165), followed by Viola Davis (+250), Marisa Tomei (+300), Taraji P Henson (+800), and Amy Adams (+900).

Danny Boyle, for Slumdog Millionaire, is favored to win best Director at -350, followed by David Fincher (+350), Ron Howard (+900), Gus Van Sant (+1100), and Stephen Daldry (+1400).

The 81st Academy Awards take place Feb. 22 at 8 pm ET on ABC.