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  • New Jersey Sportsbooks Accepting Legal Oscars Bets for First Time

    For movie lovers in and around New Jersey, there has never been a better time to have a strong opinion on this year’s Oscars. New Jersey sportsbooks are the first in United States history to legally accept bets on the Academy Awards — which are set for Feb. 24 — breaking new ground on the rapidly expanding legal sports betting market

    Odds and contests vary by sportsbooks, and betting limits are relatively low compared with mainstream sporting events. Most books are simply offering odds on the winners of the big six Academy Awards categories: best picture, director, actor, actress, supporting actor, and supporting actress.

    As an event that has never been offered before, the handle for legal Academy Awards betting is difficult to predict. But this year could be ideally situated. Odds for a tight Best Picture race range from the favorite, Roma (odds are as low as 1 to 2), to the dark horse, Vice (as high as 800 to 1).

    Without a clear favorite, the Best Picture race could generate significant interest.

    “This is a fun year, especially for bettors, because there is no heavy favorite,” Welman said. “Looking at the classic indicators of who will win Best Picture, the results are all over the map. While Roma may be the frontrunner, it is far from a guaranteed winner, which means one of these underdog winners could result in big payday for those who back them. Take Black Panther, for example. There is a scenario that the box office smash could win Best Picture. And with some books offering +2,500 odds, a small $10 bet could result in $250 profit.”

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