February 28, 2023
Everything You Need to Know About Betting on the Academy Awards
- All Quiet on the Western Front, Everything Everywhere All at Once, and Elvis are top contenders in many categories for the 2023 Academy Awards.
- You can bet on the 95th Oscars at DraftKings and FanDuel on who you think will win for Best Actor, Best Actress, Best Picture, and more.
- Some of the most lucrative Oscar categories to bet on include Best Picture, Best Adapted Screenplay, Best Live-Action Short, Best Costume Design, and Best Makeup & Hairstyling.
Sports betting in the U.S. has really boomed over the past five years now that more states keep legalizing online sportsbooks. You can wager on nearly any U.S. and international sport, like football, basketball, hockey, and soccer. But did you know you can actually bet on the Academy Awards, too?
Film buffs and sports betting enthusiasts alike are sure to love placing wagers on the winners of the biggest, most prestigious awards show in Hollywood — The Academy Awards, better known as The Oscars.
The 95th Academy Awards takes place on Sunday, March 12 from 8 p.m. to 11 p.m. EST.
If you want to get in on this unique betting action, we’ll teach you everything you need to know to bet on the Oscars. Here’s our ultimate guide to betting on the Academy Awards.
Types of Oscars Bets
When you bet on the Academy Awards, you primarily make futures bets on the winners of each of the major categories for acting, writing, directing, VFX, music composition, and more. These are known as moneyline bets, just like in sports betting. However, some online sportsbooks offer Oscars props betting for special events during the live show.
Reading Oscars Betting Odds
Understanding the odds for Oscars betting is similar to understanding sports betting odds. Favorites are labeled with minus (-) signs, while underdogs have the plus (+) sign. These symbols and the numbers that come after them tell you how much you can earn if you select that winning bet.
Everything Everywhere All at Once is expected to win with -280. It’s the favorite. So, you would have to wager $280 in order to make $100 on that wager. If The Daniels’ film wins, your payout would be a total of $380.
Let’s say you bet $100 on Triangle of Sadness to win. Its odds are +10000. A real long shot. The odds here indicate how much you stand to win on a $100 bet. If this film won in a huge upset, you’d win $10,000 and get a payout of $10,100. Not bad.
Everything Everywhere All at Once, the sci-fi adventure by directing duo known as The Daniels, is expected to sweep in many of the major categories, including for Best Picture. But the film didn’t receive many laurels at the British Film Awards (BAFTAs). Critics were also taken by pop culture film Top Gun: Maverick, a sequel nearly 40 years in the making.
|2023 Odds for Best Picture|
|Everything Everywhere All at Once||-280||-280|
|The Banshees of Inisherin||+600||+500|
|All Quiet on the Western Front||+700||+1100|
|Top Gun: Maverick||+900||+1000|
|Avatar: The Way of Water||+6500||+5000|
|Triangle of Sadness||+10000||+8000|
We’ve entered the Brenaissance as early ‘00s action hero Brendan Fraser reinvents himself in Darren Aronofsky’s drama The Whale. But Austin Butler recently won a British Film Award (BAFTA) for his portrayal of the King of Rock ‘n’ Roll in the flashy biopic by Baz Luhrmann. Colin Farrell isn’t far behind, thanks to his Golden Globe win for Best Actor in a Musical or Comedy. Too bad the Oscars doesn’t split up by genre.
|2023 Odds for Best Actor|
|Brendan Fraser (The Whale)||-125||-125|
|Austin Butler (Elvis)||+100||+115|
|Colin Farrell (The Banshees of Inisherin)||+500||+500|
|Paul Mescal (Aftersun)||+3500||+3500|
|Bill Nighy (Living)||+5000||+3500|
Cate Blanchett recently won the Golden Globe for Best Actress in a Drama and the BAFTA in the leading actress category, so she’s definitely the frontrunner going into the Oscars. But don’t count out Michelle Yeoh’s Golden Globe win in the Musical or Comedy category. Not to mention, this is her EIGHTH Oscar nomination for acting.
|2023 Odds for Best Actress|
|Cate Blanchett (Tár)||-280||-220|
|Michelle Yeoh (Everything Everywhere All at Once)||+150||+130|
|Andrea Riseborough (To Leslie)||+1600||+2100|
|Michelle Williams (The Fablemans)||+3500||+2300|
|Ana de Armas (Blonde)||+5000||+2800|
Best Supporting Actor
Ke Huy Quan won the supporting actor statue at the Golden Globes in January, but Irish lad Barry Keoghan took home the BAFTA for The Banshees of Inisherin.
|2023 Odds for Best Supporting Actor|
|Ke Huy Quan (Everything Everywhere All at Once)||-2000||-1100|
|Barry Keoghan (The Banshees of Inisherin)||+700||+1000|
|Brendan Gleeson (The Banshees of Inisherin)||+800||+2100|
|Judd Hirsch (The Fablemans)||+4000||+2300|
|Bryan Tyree Henry (Causeway)||+4000||+2800|
Best Supporting Actress
Angela Bassett took home the Golden Globe for the MCU film, but Kerry Condon got the BAFTA in this category. But both Stephanie Hsu and Jamie Lee Curtis could ride the Everything Everywhere All at Once wave, especially Curtis who is celebrating her very first Oscar nom after a long, rich film career.
|2023 Odds for Best Supporting Actress|
|Angela Bassett (Black Panther: Wakanda Forever)||-400||-280|
|Kerry Condon (The Banshees of Inisherin)||+200||+190|
|Stephanie Hsu (Everything Everywhere All at Once)||+1600||+1800|
|Jamie Lee Curtis (Everything Everywhere All at Once)||+1600||+1800|
|Hong Chau (The Whale)||+2200||+2400|
The Daniels, the directing pair made up of Kwan and Scheinert, are expected to win the Academy Award. But the Golden Globe went to legendary director Steven Spielberg, who didn’t earn a BAFTA nomination due to his film’s release after the consideration date. Edgar Berger, director of All Quiet on the Western Front won the BAFTA.
|2023 Odds for Best Director|
|Daniel Kwan & Daniel Scheinert (Everything Everywhere All at Once)||-1000||-550|
|Steven Spielberg (The Fablemans)||+500||+340|
|Todd Field (Tár)||+1400||+1600|
|Martin McDonagh (The Banshees of Inesherin)||+1400||+2300|
|Ruben Ostlund (Triangle of Sadness)||+5000||+3500|
Best Original Screenplay
Martin McDonagh won this category back in 2018 for Three Billboards Outside Ebbing, Missouri, and his Irish film won the BAFTA and the Golden Globe. But critics really loved The Daniels’ Everything Everywhere, which still has a decent shot.
|2023 Odds for Best Original Screenplay|
|The Banshees of Inisherin||-165|
|Everything Everywhere All at Once||+100|
|Triangle of Sadness||+2500|
Best Adapted Screenplay
All Quiet on the Western Front won the BAFTA in February, but Women Talking just missed the submission deadline for the ceremony across the pond. The incredible critical review of the film — specifically its script — makes it a frontrunner for sure.
|2023 Odds for Best Adapted Screenplay|
|All Quiet on the Western Front||+150|
|Glass Onion: A Knives Out Mystery||+1400|
|Top Gun: Maverick||+2200|
Best Animated Feature
Pinocchio won the Golden Globe and BAFTA, and critics loved the producer/director’s take on the classic tale. So that cute little shell or adorable cat aren’t likely to win.
|2023 Odds for Best Animated Feature|
|Guillermo del Toro’s Pinocchio||-2500|
|Marcel the Shell With Shoes On||+1000|
|Puss in Boots: The Last Wish||+1100|
|The Sea Beast||+3000|
Best International Feature
What used to be known as the Best Foreign Language Film category is now the International Film category. The German-language film All Quiet on the Western Front won at the BAFTAs, too.
|2023 Odds for Best International Feature|
|All Quiet on the Western Front||-3500|
|The Quiet Girl||+1000|
Best Documentary Feature
Navalny recently won the BAFTA.
|2023 Odds for Best Documentary Feature|
|All the Beauty and the Bloodshed||+175|
|Fire of Love||+350|
|All That Breathes||+1200|
|A House Made of Splinters||+5000|
Best Live-Action Short
An Irish Goodbye won the Best British Short Film category at the BAFTAs, but the other films were not nominated.
|2023 Odds for Best Live-Action Short|
|An Irish Goodbye||+135|
|The Red Suitcase||+350|
Best Documentary Short
The Elephant Whisperers, the frontrunner film, follows a couple in South India who care for an orphaned baby elephant. But the intense story of Stranger at the Gate explores questions of war, trauma, religion, and inhumane acts of violence.
|2023 Odds for Best Documentary Short|
|The Elephant Whisperers||-125|
|Stranger at the Gate||+350|
|How Do You Measure a Year?||+400|
|The Martha Mitchell Effect||+700|
Best Visual Effects
Though the story, performances, and directing were largely untouched, the long-awaited James Cameron film Avatar: The Way of Water is expected to win for visual effects, like the first film did. It also took home the BAFTA for this category.
|2023 Odds for Best Visual Effects|
|Avatar: The Way of Water||-3500|
|Top Gun: Maverick||+1000|
|Black Panther: Wakanda Forever||+1200|
|All Quiet on the Western Front||+1800|
It doesn’t get much more impressive than the sounds of being in a fighter jet or running through a warzone. But All Quiet on the Western Front won the BAFTA.
|2023 Odds for Best Sound|
|Top Gun: Maverick||-360|
|All Quiet on the Western Front||+300|
|Avatar: The Way of Water||+1000|
All of these films were praised for their incredible visual style and frame composition. All Quiet on the Western Front took home the BAFTA.
|2023 Odds for Best Cinematography|
|All Quiet on the Western Front||-500|
|Empire of Light||+700|
|Bardo, False Chronicle of a Handful of Truths||+2800|
Best Costume Design
The King of Rock ‘n’ Roll was known for lavish costumes. Plus, it covers multiple decades of the legend’s life, which gives the costume design team an edge in this competition. But bringing to life the fictional African nation of Wakanda, the time-bending world of the multiverse, 1920s Hollywood, and 1950s London is no small feat either.
|2023 Odds for Best Costume Design|
|Black Panther: Wakanda Forever||+110|
|Everything Everywhere All at Once||+600|
|Mrs. Harris Goes to Paris||+2000|
Best Original Score
For what the film lacked in an enthralling story, Babylon made up for it with an amazing score, earning it the Golden Globe in January. But All Quiet on the Western Front took home the BAFTA.
|2023 Odds for Best Original Score|
|All Quiet on the Western Front||+175|
|The Banshees of Inisherin||+2000|
|Everything Everywhere All at Once||+2500|
Best Original Song
The critical and audience hit RRR was seemingly snubbed for many awards at the BAFTAs and Golden Globes, but it won the Golden Globe for Best Original Song back in January.
|2023 Odds for Best Original Song|
|“Naatu Naatu” (RRR)||-400|
|“Lift Me Up” (Black Panther: Wakanda Forever)||+300|
|“Hold My Hand” (Top Gun: Maverick)||+550|
|“This Is a Life” (Everything Everywhere All at Once)||+3500|
|“Applause” (Tell It Like a Woman)||+3500|
Best Makeup & Hairstyling
Brendan Fraser transformed into a character with severe obesity and related illnesses in The Whale. Austin Butler embodied the unique style of Elvis in the titular film. Both are favorites to win, nearly neck and neck.
|2023 Odds for Best Makeup & Hairstyling|
|Black Panther: Wakanda Forever||+2500|
|All Quiet on the Western Front||+3000|
Best Production Design
Again, for what Babylon lacked in its content, it made up for in a stellar production design, earning it the BAFTA.
|2023 Odds for Best Production Design|
|Avatar: The Way of Water||+600|
|All Quiet on the Western Front||+800|
Best Film Editing
Everything Everywhere won the BAFTA in February, but Top Gun: Maverick had an adrenaline-rushing pace that makes it a hot contender.
|2023 Odds for Best Film Editing|
|Everything Everywhere All at Once||-175|
|Top Gun: Maverick||+125|
|The Banshees of Inisherin||+1400|
Where to Bet on the Oscars
You can place bets on the Oscars at both DraftKings online sportsbook and FanDuel online sportsbook in New Jersey. If you’re only interested in betting on the most popular categories, FanDuel is hosting bets for acting, directing, and best picture awards. If you want the full betting experience, DraftKings is taking bets on all of the categories.
Unfortunately, BetMGM and Caesars are not offering betting on the Academy Awards this year.
How to Pick Bets for the Oscars
Follow these tips to optimizing your picks and maximize your wagers when betting on the Oscars 2023:
- Read critics’ reviews for each of the nominees as not doing your research can be a big mistake.
- Read, listen to, or watch industry news on Oscars buzz from industry publications, like The Hollywood Reporter, Variety, and more.
- Review previous years’ winners and identify the contributing factors that led to their win, such as by reading reviews of the ceremonies/winners.
- Check how nominees have fared in other awards ceremonies this season.
- Consider special characteristics for nominees, such as how many times they’ve been nominated previously and for what, whether they’ve won before and for what, whether they’re a newcomer to the scene or are a veteran in the industry.
- Pay attention to the film’s release date as it’s common for later-released films to get better favor simply because they’re fresher in people’s minds.
- Know how the Academy votes on the winners, which includes reviewing copies of the films and are asked to consider certain aspects of the picture, like the script, cinematography, particular performances, and more.
- Leave your bias at the door and focus solely on what you think the 6,000 members of the Academy of Motion Picture Arts and Sciences (AMPAS), the governing body that votes on the Oscars, would vote for in each category.
History of Betting on the Oscars
Oscars betting was first introduced in 2019. New Jersey was the only state that offered betting on the Oscars at that time. Indiana, Michigan, Colorado, and Louisiana followed suit in the following years. States like Pennsylvania limit wagering to collegiate and professional sports and prohibit betting on special events, like the Oscars.
Oscars Betting vs. Sports Betting
Like in sports betting, oddsmakers review a lot of data to determine the favorites and underdogs for each category for the Academy Awards, including:
- Critical reviews.
- The level of the physical or emotional transformations the performers made (which can influence acting, directing, makeup, and other categories).
- The nominations and wins in various categories at prominent film festivals around the world.
- The recognitions from other industry associations.
Then, they compound these and other factors into statistical data to crunch the numbers and determine the odds.
However, in sports, oddsmakers have a lot of raw, statistical data from sports analysis. Only some anecdotal information is used to determine the odds in sports betting.