Bet the 82nd Academy Awards at betED.com

The 82nd Academy Awards are fast-approaching and prop betting fans can get Oscar Betting Odds at betED.com.

The Academy Award ceremony (Sunday, March 7, 8 pm ET, ABC) has become easily the most popular prop betting event of the year - the Super Bowl of entertainment and celebrity prop betting.

Leading the favorites for the Best Picture Oscar is The Hurt Locker, which is at -150 in Academy Award Betting Odds at betED.com.

Avatar, the highest grossing film in motion picture history, is next at -110 to win the Best Picture award.

Quentin Tarantino's Inglorious Basterds is next (but way back) at +800, followed by Up in the Air at +4000, and Precious and Up, both at +5000.

The Hurt Locker director Kathryn Bigelow is a big favorite to win the Best Director award, at -400. James Cameron, who helmed Avatar, is at +150, followed by Tarantino at +2000, and Jason Reitman and Lee Daniels, both at +4000.

In the Best Actor category, longtime fan favorite Jeff Bridges is a huge favorite at -700 for his performance in Crazy Heart. Perennial favorite George Clooney is at +400 for Up in the Air, and Morgan Freeman is at +1200 for Clint Eastwood's Invictus.  

Sandra Bullock is the favorite for the Best Actress Oscar, at -150, for her portrayal of  Southern mom Leigh Anne Tuohy in The Blind Side.

And speaking of perennial favorites, Meryl Streep picked up her 16th Oscar nomination - an Academy Award record  -- for her turn as chef Julia Child in Julie & Julia. Streep is at +150 in Academy Award Odds.

Check out betED.com for a full list of Academy Award nominees and betting odds.