The battle between Barbie and Oppenheimer extends beyond the box office as online gambling sites gear up for an Oscars wagering showdown in states like New Jersey and Massachusetts. This Sunday’s Academy Awards have become a hotbed for gamblers, offering bets on categories ranging from best picture to animated shorts.
Bill Speros, a senior betting analyst at Bookies.com, predicts a surge in Oscars betting, attributing it to the widespread popularity of Barbie and Oppenheimer. This year marks a unique opportunity to bet on two films and their stars with genuine mass appeal.
Since the legalization of wagering on the Oscars in 2019 in New Jersey, the practice has gained momentum. Gambling, on the rise in the U.S. since 2018, has become a lucrative avenue for states to boost tax revenue, despite potential financial risks to gamblers.
While exact figures remain undisclosed, the Oscars’ betting craze is expected to be a fraction of the $23 billion wagered on last month’s Super Bowl. Nevertheless, it provides casinos with the chance to attract gamblers less interested in traditional sporting events.
Online platforms like DraftKings, BetMGM, and ESPN BET facilitate most Oscar wagers, emphasizing the convenience of digital betting. Johnny Avello from DraftKings notes higher engagement from women during the Oscars season, showcasing the event’s broad appeal.
Oscars betting is permitted in states including Michigan, Indiana, Arizona, Kansas, and Louisiana, while California, home to the Academy Awards, prohibits wagering on the honors. Stringent controls by the Academy Awards aim to prevent premature disclosures of winners.
In Ontario, Canada, FanDuel introduces unique bets unrelated to winners, such as predicting Margot Robbie’s Barbie outfit. However, such wagers are not allowed in U.S. states.
As Hollywood organizations unveil their picks, the odds for Oppenheimer and Barbie have fluctuated. Despite Barbie winning the box office battle with $1.4 billion in global ticket sales, Oppenheimer emerges as the front-runner for the coveted best picture trophy, having secured top prizes at the Golden Globes and Screen Actors Guild Awards.
A week before the Oscars, DraftKings reveals that a $50 bet on Oppenheimer could yield a $1 profit, while the odds for Barbie stand at 35 to 1. The Oscars are not just a celebration of cinematic achievements but a thrilling betting spectacle capturing the attention of audiences far beyond the silver screen.
