Anyone out there have action on”Green Book” to win Best Picture at Sunday night’s 91st Academy awards presentation?
If you live in Nevada, chances are you don’t — unless you illegally bet overseas. No Nevada casino has sought permission to take wagers from the Oscars, even though state regulations offer a pathway for it.
Meanwhile in New Jersey, in which the state is giddily enjoying its new toy, legalized sports gambling, 12 casinos are taking wagers on the Academy Awards masterpiece of classes.
Whether Oscar betting is successful enough to become an yearly New Jersey staple and if Nevada sportsbooks would attempt taking those bets are open questions.
The fact is there’s very little worth to bettors taking action on Oscar wins.
Many New Jersey Oscar betting is money-line activity, meaning that the casual bettor who not wagers online sports may need a little instruction before throwing down their money. It also isn’t helpful that in most categories there are overwhelming favorites to win.
Take Best Picture for instance. The overwhelming favorite 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 this week, the best odds for customers from New Jersey were provided by PlayMGM, which had”Roma” in -375. That means a $10 bet on”Roma” could win the $10 back and roughly $2.67.
But if you boldly predict”Green Book” in an upset at +450 at DraftKings, this $10 bet would win the $10, and $45.
“The Favourite” is certainly not the favorite, going out in +1600 at several books. The longshot for Best Picture is”Vice,” at +10000 at six places. If you place $10 on”Vice” to win and it comes in, you would find the $10, and $1,000.
The longest odds on the plank at the six major groups was +12500 in William Hill and Hard Rock Atlantic City to get Willem Dafoe to win Best Actor in”At Eternity’s Gate.” That’s $10 to get a profit of $1,250.
By the way, of those 12 sportsbooks taking stakes on Oscar outcomes, five are taking action on every class. A few 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 just taking bets on Best Picture.
It is apparent that the belief that the big favorites being destined to win will keep prospective bettors away. Oscar betting may be more persuasive if there were many movies that struck a chord with all movie-goers. And, Las Vegas’ closeness to Hollywood could also generate interest.
Former state Gaming Control Board Chairwoman Becky Harris explained that authorities opened the doorway to wagering about the Oscars and other award shows annually, but no sportsbook has stepped up to attempt it.
Under present policy, a bookmaker would need to make an official petition of the board for consideration at least 30 days in advance of this event. That would give board investigators the chance to vet the whole process of how a winner is chosen, how votes are tallied and where that information is saved.
Show producers don’t need to share this information with investigators, a possible roadblock to novels if organizers don’t need the public gambling in their own awards.
“It’s a matter of who has access to this data and how that information is shared,” Harris stated. “The applicant has to prove there’s ethics in the process as we have to assure the public that an event is fair, fair and open.”
The 2017 fiasco between”La La Land” manufacturers being called to the stage for Best Picture only to find out the”Moonlight” was the true winner didn’t do a lot for confidence in the process.
The books no doubt will soon be waiting to hear about New Jersey’s outcomes to see whether it’s something that should be tried in Nevada.
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