The 96th annual Academy Awards are set to take place this Sunday, with more than just the stars having something on the line. Betting on the Oscars has become increasingly popular and accessible in seven states, with Ontario even allowing bets on aspects like Jimmy Kimmel's monologue and Margot Robbie's red carpet look. Additionally, there are numerous casual Oscars pools among friends and colleagues.
While the exact amount of money expected to be wagered isn't publicly available, it's anticipated to be closer to the sum bet on a regular season NBA game rather than the Super Bowl. This year, the Oscars are expected to attract more speculators due to the success of box office hits like 'Barbie' and 'Oppenheimer.'
Experts predict that 'Oppenheimer' is the favorite to win the night's top prize, with a significant portion of the bets placed on DraftKings backing the film. However, predicting Oscar winners can be challenging as the winners are chosen by the 9,797 voting members of the Academy of Motion Picture Arts and Sciences.
Unlike sports betting, Oscar betting relies on subjective opinions rather than statistical data. While some indicators like the winners of the SAG Awards and BAFTAs are considered, there have been surprises at the Oscars in the past.
GoldDerby, a website dedicated to predicting Hollywood award shows, offers insights into potential winners based on available data. Their predictions for the 2024 Oscars include favorites like 'Oppenheimer' for Best Picture and Lily Gladstone for Best Actress.
It's important to remember that betting on the Oscars, like any form of gambling, comes with risks. There's no such thing as a guaranteed win in the world of betting. So, if you decide to place a wager, do so at your own discretion.
