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

Anyone out there have action on”Green Book” to win Best Picture in Sunday night’s 91st Academy Awards presentation?

If you live in Nevada, odds are you do not — unless you bet overseas. No more Nevada casino has sought permission to take wagers in the Oscars, even though state regulations provide a pathway for it.

Meanwhile in New Jersey, in which the state is giddily enjoying its brand 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 annual New Jersey staple and whether Nevada sportsbooks would attempt taking those stakes are open questions.

The truth is there is very little worth to bettors taking action on Oscar wins.

Most New Jersey Oscar betting is money-line activity, meaning that the casual bettor who never wagers on sports may require a little instruction before throwing down their money. It also isn’t helpful that in most categories there are overwhelming favorites to win.

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

In the middle of this week, the greatest odds for customers from New Jersey were offered by PlayMGM, which had”Roma” at -375. That means a $10 bet on”Roma” would win the $10 back and roughly $2.67.

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

“The Favourite” is certainly not the favored, going out in +1600 at several novels. The longshot for Best Picture is”Vice,” at +10000 at six locations. If you place $10 on”Vice” to win and it comes in, you’d find the $10, plus $1,000.

The longest odds on the board in the six major groups was +12500 in William Hill and Hard Rock Atlantic City for Willem Dafoe to win Best Actor in”At Eternity’s Gate.” That’s $10 for a profit of $1,250.

By the way, of those 12 sportsbooks taking stakes on Oscar results, five are taking action on every class. A few 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 only taking bets on Best Picture.

It is apparent that the belief that the big favorites being destined to win will keep prospective bettors away. Oscar betting may be more persuasive if there were many movies that struck a chord with all movie-goers. And, Las Vegas’ closeness to Hollywood can also create curiosity.

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

Under present policy, a bookmaker would have to make a formal petition of the board for consideration at least 30 days in advance of this occasion. That would give board investigators the opportunity to vet the whole process of how a winner is selected, how votes are tallied and where that information is stored.

Show producers don’t have to share this information with investigators, a possible roadblock to books if organizers don’t want the public gambling on their own awards.

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

The 2017 fiasco involving”La La Land” manufacturers being called to the platform for Best Picture just to find out that”Moonlight” was the actual winner didn’t do a great deal for optimism in the procedure.

The books no doubt will be waiting to hear about New Jersey’s outcomes to see whether it is something which should be attempted in Nevada.

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