Oscar Betting Will be Huge in New York ....Thanks to New Jersey
The state of New York is yet to offer betting on the Oscars or any other event, sporting or otherwise, online directly but folks living in the Empire State will still be able to place their Oscar bets with a host of international sites.
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In years past, most folks had no idea this type of wagering was available. It has been for at least 20 years.
Those living in lower New York including the Big Apple will be exposed to extensive news coverage of Oscar betting thanks to New Jersey becoming the first state to offer gambling on the event directly. The New York City media market covers half of the Garden State.
In a historic first for the country, NJ’s DGE has opened up its sports betting establishments to legally accept wagers on the 91st Academy Awards winners.
Nevada, despite being the first state to offer full service sportsbooks, never opted to allow Academy Awards wagering.
“The novelty alone should pique the interest of bettors,” said Dustin Gouker, lead sports betting analyst for PlayUSA.com, a website dedicated to online gambling news. “People already love to try to predict who will win the Oscars, and now they can actually put their money where their mouth is.”
The Oscars has long respresented one of the top five single day betting events covered by the Gambling911.com website.
"Outside of U.S. Presidential races, it is the most bet on nonsporting event," noted G911 Senior Editor Payton O'Brien.
And the "locks" are plentiful. Alfonso Cuaron (Roma) -2000 for Best Director and Spider-Man: Into the Spider-Verse -1500 for Best Animated Film are already winners based on the oddsmakers assessments. The only problem is one would have to bet $200 on Cuaron just to win $10 (that $200 is refunded as long as he's a winner).
Better odds include Best Picture. While Roma as the favorite requires a refundable $30 to win $10, Green Book pays $36 on a $10 refundable bet provided it's a winner.
Reading the odds is simple. Roma -330 simply means you would bet $33 to win $10 with that $33 refunded should Roma take the Oscar for Best Picture. The (-) before a number means that the risk is higher than the reward. A (+) in front of the number means the risk is less than the reward. As such +360 means that the payout for Green Book is $36 for every $10 bet, and that $10 is refundable assuming Green Book is a winner.
When you see a number like -2000, that means you have to bet $200 to win $10, with that $200 refundable assuming the bet is a winner. Sure, this will almost certainly be an easy $10, but do you have $200 to just throw around like that?
Be forewarned, while Bohemian Rhapsody is listed at an appealing +1800 and would translate into a $180 favorite for every $10 bet, these long shots NEVER win when it comes to Oscar betting.
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