Betting on the Oscar Academy Awards
The Academy Awards popularly known as The Oscars, are the most prestigious awards in film. Held annually, the Oscars are the hallmark of Hollywood (and the entertainment world as a whole), where awards are given for excellence in cinematic achievement.
In addition to the glamour of the Oscars, the Academy Awards are a good opportunity to gamble. If you are connected to the movie scene and understand how the betting lines work, there is a good chance to cash in.
If you’re new to it all, we’ll walk you through Oscar betting, starting with the basics and ending with some advanced betting strategies.
In the past, only a few bookmakers used Oscar rows and only offered odds on the top awards. Nowadays, viral news about the Oscars is available everywhere, as betting on awards has become increasingly popular.
You will see many movies, actors, and director names that you recognize, but you may not be familiar with how the odds work.
Types of bets
There are mainly only two types of Oscar bets you will find: who will win the awards and separate props.
The first type is quite simple. You’ll see a category with the nominees and you can bet on who you think will win. If they win the award, you’ll collect your bet.
Prop bets (also known as proposition bets) are bets on aspects of the Oscars that are not related to the awards. They allow you to bet on aspects of the ceremony itself.
For example, you can see a prop if an appreciation speech is prematurely interrupted by music or if someone makes a political comment during the appreciation speech. For example, you can bet on how many times President Biden will be named during the show or it might not happen.
Oscar betting strategy
For many sports bettors, the Oscars are just a one-night stand. While you don’t have to put in the same amount of time and effort as a full NBA season, you should work hard to have some sort of accuracy.
There are great opportunities to make money betting on the Academy Awards, but it takes a little research and a little homework to be in a position to succeed. We’ve outlined some strategies for you to consider to take advantage of at your bookmaker.
Know what the categories are all about
One of the first places people stumble when betting the Oscars is not having a clear understanding of the categories.
Categories like “Best Actor” or “Best Original Song” are usually pretty clear, but sometimes people have a hard time distinguishing between “Best Picture” and “Best Director”.
A film may win the “Best Picture” Oscar, but that doesn’t mean it’s a safe bet to take home the “Best Director” award as well.
If you plan to delve into categories like ‘Best Original Screenplay, ‘Best Cinematography’ or ‘Best Production Design’, make sure you know what they mean and what the judges will be looking for.
Watch the films
It may seem obvious, but it’s an aspect of Oscar betting that is often overlooked. Always watch movies. Many bettors thinking that entertainment is very easy to predict, end up losing their bets and this happens because they know nothing about this subject.
It should be noted that predictions can go down if there is not one but 2 favorite movies, but according to experts there is an advantage between them and the one that was in second place, it’s positioned as the winner. All this you should consider very well and investigate the 2 strongest options.
Keep a record of the winners during the awards season
One of the best clues as to who will win the Oscars is to take note of how films perform during awards season. While it is the industry’s most revered program, the Oscars are not the only awards show.
There are many, such as the People’s Choice Awards, the Emmys, and the Golden Globes, which begin in November and run through the Oscars.
The Golden Globe Awards are considered No. 2 on the power lists, but it’s not always the best story. The Critics ‘Choice Awards were a good indicator of the “Best Director” award at the Oscars. Most of the “Best Director” winners at the Critics ‘Choice Awards have won the same award at the Oscars.
The other thing to keep in mind here is the consensus. In some years, there has been real uncertainty as to who would emerge as the winner. This leaves the competitions wide open until the Oscars.
If you see a film that sweeps the box office, you know there’s a good chance it will continue to make it to the Oscars. In these scenarios, it’s best to place your bet as early as possible, as the bookmakers will likely further reduce the odds on the favorites as time goes on and attract a higher volume of bets.
Take note of the momentum of each film
Some of the best rival films are released in the fall and when they come out, critics fawn over the performances. For example, if a movie is released in the fall where most people are in love with it, everyone will likely identify with it and it will be well received.
If the global environment is dominated by themes of war, LGBT rights, then if a film touches on these themes, it is very likely to become a favorite as well.
During awards season, another film depending on the current situation may take greater prominence. Often, this is how the Oscars go.
Keep this in mind when betting on the Oscars. Track the awards and see which film is gaining momentum as it reaches the top of the season. Similarly, keep an eye out for films that are losing momentum, this will be helpful.
Understand the possible scenarios of the Academy process
Not all award voters were created equal. Just because an actor wins “Best Actor” at the Golden Globes doesn’t mean he or she will win the Oscars.
That issue plays out regularly, and I can give you an example where Leonardo DiCaprio was nominated for every Oscar award for his lead role in his films, but still never went on to win an award.
The Academy is an asset and they have a closely guarded method of collecting awards. While the award selection process is notoriously opaque; they have over 5000 or so members and vote for every award.
However, performance and artistic merit matter as much as campaigning. Marketing, interviews, parties, dinners, and general exposure all play a role in who ends up winning an Oscar.
If you’ve been watching the Oscars for years just enjoying the festivities and fashion, you can now think about how you can get more out of this show if you do your research and gain knowledge and add a little money and more fun.
Now that you know that there is money to be made betting on Hollywood and you know how to do it, do you watch this popular award show differently?