One year one from New Jersey’s retail and online sportsbooks’ ground-breaking decision to offer legal betting on the Academy Awards for the first time, the Garden State is once again offering odds on the Oscars on February 9.
To prepare for the movie industry’s star-studded night, PlayUSA has created a complete rundown of the Oscars at www.playusa.com/sports-betting/oscars, including odds on every major category, a pick sheet, what sites are accepting bets, and analysis on the races.
“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 favorites and more interested in backing their favorite 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.”
New Jersey sportsbooks accepted an estimated $1m in bets in the first year that it was offered, according to PlayUSA. And the Garden State is the only legal jurisdiction so far offering odds in 2020.
DraftKings became the first sportsbook to post the Oscars, followed by FOX Bet, and more are expected soon. DraftKings is offering odds on all 24 categories at the Academy Awards. In 2019, most books limited action to the six major Oscars categories, including best picture, director, actor, actress, supporting actor, and supporting actress.
“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 polarized 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.”