New Jersey is taking bets on the Oscars, but not Nevada

Anyone out there have action on”Green Book” to win Best Picture in Sunday night’s 91st Academy Awards presentation?

If you reside in Nevada, chances are you don’t — unless you illegally bet offshore. No more Nevada casino has sought permission to take wagers from the Oscars, although state regulations provide a pathway for this.

Meanwhile in New Jersey, in which the country is giddily enjoying its new toy, legalized sports gambling, 12 casinos are taking wagers on the Academy Awards slate of categories.

Whether Oscar gambling is successful enough to become an yearly New Jersey staple and whether Nevada sportsbooks would attempt taking those bets are open questions.

The fact is there’s very little value to bettors taking action on Oscar wins.

Many New Jersey Oscar gambling is money-line activity, meaning that the casual bettor who not wagers online sports may need a little education before throwing down their money. It also is not 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 created by Best Director nominee Alfonso Cuaron, set in the Colonia Roma district of Mexico City.

In the middle of the week, the greatest odds for customers from New Jersey were offered by PlayMGM, which had”Roma” in -375. Meaning a $10 wager on”Roma” could win the $10 back and roughly $2.67.

But in the event that you boldly predict”Green Book” in an upset at +450 in DraftKings, that $10 bet would win the $10, plus $45.

“The Favourite” is certainly not the favorite, going out at +1600 at several novels. The longshot for Best Picture is”Vice,” in +10000 at six locations. If you put $10 on”Vice” to acquire and it comes in, you would get the $10, plus $1,000.

The longest odds on the board in the six Big categories was +12500 at 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 bets on Oscar results, five are taking action on every category. A few are taking bets about the so-called”big six” — Best Picture, Best Director, Best Actress, Best Actress, Best Supporting Actor and Best Supporting Actress. Some are just taking stakes on Best Picture.

It is clear that the belief that the big favorites being destined to triumph will keep potential bettors off. Oscar betting could be more persuasive if there were several films that struck a chord with all movie-goers. And, Las Vegas’ proximity to Hollywood can also create interest.

Former state Gaming Control Board Chairwoman Becky Harris clarified that regulators opened the door to wagering on 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 a formal request of the board for consideration at least 30 days in advance of the occasion. This would give board investigators the opportunity to vet the entire process of how a winner is chosen, how votes are tallied and in which that information is saved.

Show producers do not have to share that information with investigators, a potential roadblock to novels if organizers do not want the public betting on their awards.

“It’s an issue of who has access to the data and how that data is shared,” Harris stated. “The applicant has to prove there’s integrity in the process because we must assure the people that an event is fair, fair and open.”

The 2017 fiasco involving”La La Land” manufacturers being called to the platform for Best Picture just to learn that”Moonlight” was the actual winner didn’t do a lot for optimism in the process.

The novels no doubt will be waiting to hear about New Jersey’s results to see if it’s something which should be attempted in Nevada.

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