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

Anybody out there have actions on”Green Book” to win Best Picture in Sunday night’s 91st Academy awards presentation?

If you live in Nevada, chances are you do not — unless you illegally bet offshore. No more Nevada casino has sought consent to take wagers in the Oscars, although state regulations offer a pathway for this.

Meanwhile in New Jersey, where the country is giddily enjoying its new toy, legalized sports betting, 12 casinos are taking wagers on the Academy Awards masterpiece of classes.

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

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

Most New Jersey Oscar betting is money-line activity, meaning that the casual bettor who not wagers on sports might need a little instruction before throwing their money down. It also isn’t helpful that in many categories there are overwhelming favorites to win.

Take Greatest Picture for example. The overwhelming favourite is”Roma,” a play written, directed and created by Best Director nominee Alfonso Cuaron, place at the Colonia Roma district of Mexico City.

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

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

“The Favourite” is definitely not the favorite, going out at +1600 at several books. The longshot for Best Picture is”Vice,” at +10000 at six places. If you put $10 on”Vice” to acquire and it comes in, you’d find the $10, and $1,000.

The maximum odds on the plank in the six Big categories was +12500 in William Hill and Hard Rock Atlantic City for Willem Dafoe to win Best Actor in”At Eternity’s Gate.” That is $10 to get a profit of $1,250.

By the way, of these 12 sportsbooks taking bets on Oscar outcomes, five are taking action on every class. A handful 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 apparent that the belief that the big favorites being destined to triumph will keep prospective bettors away. Oscar betting may be more persuasive if there were several films that struck a chord with all movie-goers. And, Las Vegas’ closeness to Hollywood can also create interest.

Former state Gaming Control Board Chairwoman Becky Harris explained that authorities opened the doorway to wagering on the Oscars and other award shows last year, but no sportsbook has stepped up to try it.

Under existing policy, a bookmaker would have to make a formal request of the board for consideration at least 30 days in advance of the event. That would give board researchers the opportunity to vet the whole process of how a winner is chosen, how votes are tallied and where that information is stored.

Show producers do not have to share this information with researchers, a possible roadblock to books if organizers don’t want the public betting on their awards.

“it is a matter of who has access to the information and how that data is shared,” Harris said. “The applicant must prove there’s integrity in the process because we have to assure the people that an occasion is fair, fair and open.”

The 2017 fiasco between”La La Land” manufacturers being called to the platform for Best Picture only to learn that”Moonlight” was the actual winner did not do a lot for optimism in the process.

The novels no doubt will soon be waiting to hear about New Jersey’s outcomes to find out if it is something that should be attempted in Nevada.

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