LEGAL U.S. OSCAR BETTING FOR THE FIRST TIME
Plenty of people have tried to guess who’ll take home the Academy Award at an Oscars party or with friends. New Jersey is taking the movie awards into another level.
The New Jersey Division of Gaming Enforcement gave sportsbook the all-clear to take wagers on the Oscars. So far, most NJ sportsbooks have submitted odds. It’s unforged land for US sports that are regulated gambling. Nevada hasn’t reserved action on the Oscars. Furthermore, spokespeople for both West Virginia and Pennsylvania said there are no plans to provide Oscars gambling.
HOW DOES OSCAR BETTING WORK?
There is truly just one kind of bet sportsbooks will provide around the Oscars. Each nominee in a category has moneyline odds they will take home the award.
Let’s take Best Director for instance. Here is a look at the five nominees and sample chances for each one:
Alfonso Cuaron: -1,200
Spike Lee: +700
Adam McKay: +2,000
Pawl Pawkikoski: +2,000
Yorgos Lanthimos: +2,500
The favorite to win the award is Cuaron (-1,200), who directed the movie Roma. If you wager $120 on Cuaron to win and he does, you would get your own $120 back and profit $10. In other words, you may have to wager $120 to win $10 (or $12 to win $1, and so on).
Let’s say you bet $10 on McKay (+2,000) and that he upsets though. Then you would win your $10 bet and gain $200. To put it differently, you would win $200 for each $10 you wagered (or $20 for every $1, and so on).
Because there are countless awards series leading up to the actual Oscars, there is typically a clear frontrunner in each class. This means steep moneylines on the likely winners. These bets require you wager a lot to acquire a bit. However, if you’re able to accurately predict an upset, you may make a tidy profit.
Read more: sporttobet.com