October 9, 2019

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 reside in Nevada, chances 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 this.

Meanwhile in New Jersey, in which the country is giddily enjoying its brand new toy, legalized sports betting, 12 casinos are taking wagers on the Academy Awards slate of categories.

Whether Oscar betting is powerful enough to become an yearly New Jersey staple and whether Nevada sportsbooks would ever attempt taking those stakes are available questions.

The fact is there’s hardly any worth to bettors taking action on Oscar wins.

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

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

In the middle of the week, the best odds for clients from New Jersey were provided by PlayMGM, which had”Roma” at -375. That means 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, heading out in +1600 at several books. The longshot for Best Picture is”Vice,” at +10000 at six places. If you place $10 on”Vice” to win and it comes in, you would find the $10, and $1,000.

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

Incidentally, of those 12 sportsbooks taking stakes on Oscar outcomes, five are taking action on every category. A few are taking bets about the so-called”big six” — Best Picture, Best Director, Best Actor, 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 potential bettors off. Oscar betting could be more compelling if there were many films that struck a chord with all movie-goers. And, Las Vegas’ closeness to Hollywood could also create curiosity.

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

Under existing policy, a bookmaker would need to make a formal request of the board for consideration at least 30 days in advance of this event. This would give board researchers the chance to vet the entire process of how a winner is chosen, how votes are tallied and where that info is stored.

Show producers do not have to share that information with researchers, a potential roadblock to novels if organizers don’t need the public gambling on their awards.

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

The 2017 fiasco between”La La Land” producers being called to the platform for Best Picture only to learn that”Moonlight” was the true winner didn’t do a great deal for confidence in the procedure.

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

Read more: https://conservativewatchnews.org/nba