Anybody out there have actions on”Green Book” to win Best Picture in Sunday night’s 91st Academy Awards presentation?
If you reside in Nevada, chances are you do not — unless you illegally bet overseas. No Nevada casino has sought permission to take wagers from the Oscars, although state regulations offer a pathway for this.
Meanwhile in New Jersey, where the country is giddily enjoying its new toy, legalized sports gambling, 12 casinos are taking wagers on the Academy Awards slate of categories.
Whether Oscar betting is powerful enough to become an annual New Jersey staple and whether Nevada sportsbooks would attempt taking those stakes are available questions.
The fact is there’s hardly any worth to bettors taking action on Oscar wins.
Many New Jersey Oscar betting is money-line action, meaning the casual bettor who never wagers online sports might require a little instruction before throwing down their money. Additionally, it isn’t useful that in many categories there are overwhelming favorites to win.
Take Greatest Picture for example. The overwhelming favourite is”Roma,” a drama written, directed and produced by Best Director nominee Alfonso Cuaron, set in the Colonia Roma district of Mexico City.
At the middle of the week, the best odds for clients in New Jersey were offered by PlayMGM, which had”Roma” in -375. Meaning a $10 wager on”Roma” could win the $10 back and roughly $2.67.
But in the event that you boldly predict”Green Book” in an upset at +450 in DraftKings, this $10 bet would win the $10, plus $45.
“The Favourite” is certainly not the favored, heading out in +1600 at several books. The longshot for Best Picture is”Vice,” in +10000 at six locations. If you put $10 on”Vice” to win and it comes in, you would find the $10, plus $1,000.
The longest odds on the board in the six major categories was +12500 at William Hill and Hard Rock Atlantic City for Willem Dafoe to win Best Actor in”At Eternity’s Gate.” That is $10 for a gain of $1,250.
Incidentally, of those 12 sportsbooks taking stakes on Oscar results, five are taking action on every category. A handful are taking bets on the so-called”big six” — Best Picture, Best Director, Best Actress, Best Actress, Best Supporting Actor and Best Supporting Actress. Some are only taking stakes on Best Picture.
It’s apparent that the belief that the big favorites being destined to triumph will keep potential bettors off. Oscar betting could be more persuasive if there were many films that struck a chord with all movie-goers. And, Las Vegas’ closeness to Hollywood can also generate interest.
Former state Gaming Control Board Chairwoman Becky Harris clarified that authorities opened the door to wagering on the Oscars and other award shows last year, but no sportsbook has stepped up to try it.
Under existing policy, a bookmaker would need to make an official petition of the board for consideration at least 30 days in advance of the event. This would give board researchers the chance to vet the entire process of how a winner is chosen, how votes are tallied and where that information is stored.
Show producers do not have to share that information with researchers, a potential roadblock to novels if organizers don’t want the public gambling in their own awards.
“it is an issue of who has access to this information and how that data is shared,” Harris stated. “The applicant has to prove there is ethics in the process as we must assure the public that an event is honest, fair and open.”
The 2017 fiasco involving”La La Land” manufacturers being called to the platform for Best Picture only to learn that”Moonlight” was the actual winner did not do a great deal for optimism in the process.
The books no doubt will soon be waiting to hear about New Jersey’s results to find out if it is something which needs to be attempted in Nevada.