The Social Network, Colin Firth Easy Money as Oscar Nominations Announced

With the 2011 Oscar nominations announced Tuesday morning, gamblers could expect easy money on such categories as “Best Actor” – Colin Firth the -2000 early favorite – and “The Social Network” – a -500 early favorite.

But be prepared to lay down a ton of money for such an easy win.

While the Oscars might be among the most predictable events in which to bet on – with favorites typically winning nine out of ten times – the risk vs. rewards ratio is massive. 

A bet on heavily favored Colin Firth, for example would require a $200 bet just to win $10 or $400 just to win $20.  And many gambling sites won’t allow more than $500 bet on any one Academy Awards category.

“The key is to look for favorites that don’t require as big a risk,” notes Payton O’Brien, Senior Editor of the Gambling911.com website.

“The Social Network” falls into this category. 

“It’s a big enough favorite but only requires a $50 bet to win $10.  A $100 bet pays out $20.”

The most unpredictable of the categories this year would be “Best Supporting Actress” where the favorite - Melissa Leo (The Fighter) – was a mere -300.  A $30 bet would pay out $10.

“But that one is too close to call,” acknowledged O’Brien.

Oscar nominations for 2011 were announced at 8:30 am ET Tuesday morning.  Updated betting odds were to be published at Sportsbook.com shortly here.

- Carrie Stroup, Gambling911.com Senior Reporter