Oscars Betting: Predictions for the 96th Annual Academy Awards

As anticipation builds for the 96th annual Academy Awards scheduled for Sunday, movie enthusiasts and gambling aficionados alike are gearing up to place their bets on the potential winners across various categories, from Best Picture to Best Actress.

A Rising Trend in Betting

With betting becoming increasingly accessible and legalized in several states, alongside the proliferation of Oscars pools among friends and colleagues, the excitement around predicting the outcome of the prestigious awards has reached new heights. This year, enthusiasts in seven states have the opportunity to legally wager on the Oscars, with Ontario allowing bets on aspects ranging from Jimmy Kimmel’s monologue to Margot Robbie’s red carpet attire.

While the exact figures of the expected wagers remain undisclosed, experts predict a significant surge in betting activity, with comparisons drawn to the levels seen in regular NBA games rather than the Super Bowl. This heightened interest is attributed partly to the popularity of box office hits like “Barbie” and “Oppenheimer.”

Analyzing the Favorites

According to senior betting analyst Bill Speros, “Oppenheimer” emerges as a frontrunner for the Best Picture category, with a notable 62% of bets placed on the film on DraftKings. However, navigating Oscars betting presents its challenges, as outcomes are determined by the opinions of the 9,797 voting members of the Academy of Motion Picture Arts and Sciences.

While statistical data for predicting Oscar outcomes is limited, experts draw insights from events like the SAG Awards and BAFTAs. GoldDerby, a platform dedicated to forecasting Hollywood’s award results, utilizes available data to formulate predictions. Despite occasional upsets, GoldDerby’s track record is impressive, having accurately predicted most categories in previous years.

Expert Predictions

As of March 7, GoldDerby’s projections for the 2024 Oscars offer insights into potential winners and their odds. However, it’s essential to approach betting with caution, as uncertainties remain inherent in predicting the outcomes of the Academy Awards.

In the realm of Oscars betting, as Speros emphasizes, there are no certainties. Gambling entails risks, and each wager should be made with careful consideration and awareness of the unpredictable nature of the awards ceremony.