Oscars Online Betting Fever Hits NJ as Nevada Misses Out

Oscars Online Betting Fever Hits NJ as Nevada Misses Out

Oscars Online Betting Fever Hits NJ as Nevada Misses Out

Movie and online betting buffs alike are both celebrating the opportunity to help pay for their Oscars parties in 2019. In an historic first nationwide, the New Jersey Division of Gaming Enforcement (NJDGE) has opened up its online (and land-based) sportsbooks to accept legal wagers on the 91st Academy Awards winners. Sports Betting in NJ has enjoyed outstanding success in its first 8 months of operation and this ground-breaking innovation of accepting bets on the Academy Awards is built on the ‘beyond-the-square’ thinking that has enabled that success.It is a brave online betting frontier pathway that not even long-time gambling pioneer state Nevada has chosen to take ever before. Not a single Nevada casino has ever previously sought permission to accept bets on the Oscars, even though the Silver State’s gaming regulations provide the potential possibility for it.

Why NJ Online Sportsbooks will Offer Oscars Action

In New Jersey, legalized sports betting is thriving and 12 online casinos are accepting bets on the Academy Awards across a number of categories.

888Sports for players in New Jersey is offering markets on the following Oscars categories;

  • Best Picture
  • Best Actress
  • Best Actor
  • Best Director
  • Best Supporting Actor
  • Best Supporting Actress
  • Best Original Screenplay
  • Best Adapted Screenplay
  • Best Animated Feature
  • Best Cinematography
  • Best Original Song
  • Best Original Score
  • Best Costume Design
  • Best Visual Effects
  • Best Film Editing
  • Best Makeup and Hairstyling

Of these, it is the Best Picture category that is the most popular, while markets for the so-called ‘Big Six’ (Best Picture, Best Director, Best Actor, Best Actress, Best Supporting Actor and Best Supporting Actress) are also popular.

Whether Oscar betting is successful on the night is possibly irrelevant to New Jersey sportsbooks and the reasoning could explain why Nevada sportsbooks are not-so interested in accepting wagers on Hollywood’s biggest night.

Oscar betting is thought to be predominantly money-line action, which means casual bettors who rarely if ever bet on sports might need a little self-education before parting with their hard-earnt cash on a Best Picture bet. Moreover, in many categories there are usually overwhelming favorites to win, meaning smaller returns for any cash outlaid.

However, the New Jersey sportsbooks don’t care too much, its all about using the Oscars sense of occasion as a marketing tool to place their brand names in front of Hollywood’s klieg lights.

It’s all about putting New Jersey up in lights as a gambling destination for first time gamblers, and drawing in new kinds of customers, that is the real hook behind Oscar wagering. Everyone enjoys the talk around the water cooler talking up their favorite movie of the last year and its chances of taking home the Best Picture Oscar.

Nor is it expected to be a major source of revenue for the sportsbooks, however, it provides an opportunity for online sportsbooks to get their name out in the public domain and grow brand awareness, said Nick Bogdanovich of online sportsbook William Hill;

“It’s a way to stir up conversation and get that person who may not be a regular bettor to take a look at ,” he said.

The Best Picture Betting Market

Roma is the bookies favorite to take out the Best Picture prize in 2019, and 888sports has the Mexican drama written by Best Director nominee Alfonso Cuaron at odds of -278. Here’s the range of Best Picture odds offered by 888sports;

  • Roma -278
  • A Star is Born + 4000
  • Green Book +325
  • Black Panther +2800
  • The Favourite +1700
  • Bohemian Rhapsody +3000
  • BlackKklansmen +2500
  • Vice +10000

*For the record, the author has backed Black Panther to win in an upset.