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When it comes to betting on the Oscars, nearly all big favorites can be considered "locks". The idea is to get a decent sized favorite where the bet won't break the bank, something between say -300 and -700. In this scenario, you would bet between $30 to $70 to realize a $10 profit, keeping in mind this is a 90% plus likelihood of a $10 win.
So let's look at a few of the bets that fall within this range.
Troy Kotsur is coming in at -450 to win for Best Supporting Actor for his role in CODA. This movie is also a co-favorite to win for Best Film.
Kodi Smit McPhee is coming in with the next shortest odds at +260 but, as noted, the -450 is typically "a lock". He stars in the other co-favorite The Power of the Dog.
Best Documentary has Summer of Soul favored at one of the lower "lock" prices: -300.
Best Production Design has Dune at -350.
You won't be betting these separate. Instead, you'll want to throw them each in a 4-Way parlay. The payout would be $169 on a $100 bet (that bet is refunded so we're talking a $169 profit here).
Best Makeup and Hairstyling is a bonus add-on if you like. The -275 price on The Eyes of Tammy Faye are just slightly outside our "lock" threshold, as is The Long Goodbye at -250 for Best Live Action Short Film. You may want to consider separate bets for these categories.
- Jordan Bach, Gambling911.com
