On February 9, one year from the ground-breaking decision of New Jersey’s retail and online sportsbooks to offer legal betting on the Academy Awards for the first time, the Garden State is once again offering odds on the Oscars.
PlayUSA has created a complete rundown of the Oscars at www.playusa.com/sports-betting/oscars to prepare for the star-studded night of the film industry, including odds on each major category, a pick sheet, which sites accept bets, and race analysis.
“Oscars betting was a hit in its first year in New Jersey, and we suspect that interest will only grow,” said Jessica Welman, betting analyst for PlayUSA.com and a movie historian who earned a degree in Cinema-TV Critical Studies from the University of Southern California, and a master’s in Film and Media Studies from Indiana University Bloomington.
“We saw last year that bettors were less motivated by the favourites and more interested in backing their favourite films and movie stars. This year’s field of nominees has star power in front of and behind the camera, so that should help drive interest.”
According to PlayUSA, New Jersey sportsbooks accepted an estimated $1 m in bets the first year it was offered. And the Garden State is the only jurisdiction that has offered odds in 2020 so far.
DraftKings became the first sportsbook to post the Oscars, followed by FOX Bet, and predicted more in the near future. At the Academy Awards, DraftKings presents odds on all 24 categories. In 2019, most books confined action to the six major categories of Oscars, including best picture, director, actor, actress, actress support, and actress support.
“The top categories will undoubtedly draw the most interest,” Welman said. “This year, in particular, is shaping up to be a controversial one. Again, critics can point to a lack of diversity in nominations and some films, such as Joker, have received polarised audience reactions. But instead of fighting with friends about a movie’s merits, New Jersey movie buffs can quietly put their money where their mouth is.”