Betting on Oscars in New Jersey Guide

In no small part due to the Garden State’s efforts, sports betting in the United States is growing on most Americans. Since 1992, the Professional and Amateur Sports Protection Act (PAPSA) restricted the expansion of any form of gambling across the country. Nevada was the only exception as it had already established gambling practices. New Jersey hassled and hassled, leading to a Supreme court case which they won in 2018, permitting betting to return to the state and others that so desired. Sports betting and casino gambling are now legal in New Jersey. In 2019, the New Jersey Division of Gaming Enforcement (NJDGE) allowed both brick-and-mortar and online sportsbooks to allow betting on the Oscars for 2019 only – a decision met with such positivity from ardent followers of the event. The decision made history as it was the first time that an American sportsbook will have betting markets on the Oscars, and the trend continued in 2020. With online betting also becoming more popular, Oscars betting in New Jersey could not have come at a better time. This article details the basic information you need to know about how the Academy awards work. It also shows where you can view the best odds on the different award categories and place bets, and how to ensure your winnings based on your predictions, as NJ sportsbooks continue to hope that betting on the Oscars will run for a third consecutive year.

Table of Content

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    History of The Oscars

    The Oscars or Academy awards is the most prestigious award in the film industry, globally. The Academy of Motion Picture Arts and Sciences (AMPAS) awards movies and personnel that have shown excellence and guile over the past calendar year, as determined by the academy’s voting members. The Academy, situated in Beverly Hills, California, United States, was formed in 1927 by industry leaders at the time, looking to foster harmony among the various branches of film production. The Academy admits new members every year, only by invitation who are responsible for voting on the category under which their branch falls. The only exception is the award for “Best Picture” voted by all Academy members. The branches include actors or actresses, cinematographers, costume designers, movie directors, documentary, editors, makeup artists/hairstylists, music, producers, production design, short films/feature animation, sound, visual effects, and writers. The first Academy of Motion Picture Arts and Sciences first gave out awards in 1929 at an event at Hollywood Roosevelt Hotel hosted by Douglas Fairbanks for 12 categories. The 2020 Academy awards ceremony was held at the Dolby Theatre in Los Angeles, California, making it the 18th time in a row the theatre hosted it and awarded 24 category winners.

    A movie must have aired publicly at a Los Angeles Theatre where people can pay to watch for at least one week between the 1st of January and midnight of the 31st of December 31 of a given year and be more than 40 minutes long, to qualify for nomination. The only exceptions are Best International Feature Film (with each country getting one official selection they can submit per year), Best Documentary Feature, and awards in short film categories. The film must also air at least thrice daily on each day of the week-long airing and air at least once daily between 6:00 PM and 10:00 PM local time.  PricewaterhouseCoopers (PwC) has worked closely with AMPAS since 1935, sends out ballots to eligible voting members, and collates and certifies the votes. Despite the mixup with the Best Picture Award in 2017, AMPAS retained the services of PwC to date. Winners of each category receive a gold-plated Academy Award statuette popularly called the “Oscar” at the official Award ceremony.

    In 2019, New Jersey was the only state to allow bets on the Academy Awards, and Indiana followed suit in 2020. Colorado is the latest state to join the train, allowing wagers on the event earlier this year, not long after the joined the list of states that have legalized sports betting,

    Award Categories You Can Bet On at The Oscars

    One of the reasons betting on the Oscars is particularly interesting is that it allows movie fans who are not particularly enthusiastic about betting place leisure bets that depend solely on how they feel about their favorites. Most sportsbooks offered odds on the Big Six categories for the 2020 Oscars that were held on the 9th of February, but some Sportsbooks in New Jersey like DraftKings had markets on most of the 24 categories. The big six categories are:

    • Best Picture: The best picture award is one of those the Academy of Motion Picture Arts and Sciences has given out every year since inception. Most in the film industry consider it the most prestigious award any movie can receive, and it is awarded last on the night to the producers of the winning film. 1917 was the favorite for the 2020 award, and Parasite was the movie’s closest rival with a moneyline odds of +167 at NJ DraftKings. Ford v. Ferrari was the least favored at the sportsbook, at odds of +25,000. Parasite eventually won the award, which meant everyone that backed the movie got 167 dollars for every $100 bet placed.
    • Best Actress: This award has also existed since the inception of AMPAS in 1929, awarded to the actress with the best performance in a leading role over the past calendar year. It is traditionally awarded by the winner of the past year. For her role in Judy, Renee Zellweger was the absolute favorite and nailed on for top spot with odds of  -2,500, meaning that bettors need to place a whopping $2,500 to win $100 plus their wagered amount. Renee Zellweger won the 2020 best actress award.
    • Best Actor: This award has also existed since the inception of AMPAS in 1929, awarded to the actor with the best performance in a leading role in a movie in the last year. The previous winner of the award traditionally awards it. Joaquin Phoenix’s performance in “Joker” received so many positive reviews, and the bookies noticed this as well. At odds of -5,000, which means that bettors need to wager $5,000 to win $100 plus their wagered amount. Adam Driver was a distant second at odds of +1,000. Joaquin Phoenix unsurprisingly won the 2020 award for the best actor.
    • Best Supporting Actress: The Academy of Motion Picture Arts and Sciences introduced the award in 1936, emphasizing their flexibility. The award acknowledges the efforts of the most outstanding actress in a supporting role in the previous year. Laura Dern (Marriage Story) was favourite for this category at -2,500, and won it, while Kathy Bates (Richard Jewell) at +5,000 was the long shot.
    • Best Supporting Actor: The award acknowledges the most outstanding actor’s efforts in a supporting role in the previous year. Brad Pitt’s role in Once Upon a Time in Hollywood -2,500 made him the overwhelming favourite, and there were no surprises there.
    • Best Director: This award is the last but not least of the night’s most significant categories. Many enthusiasts of the show anticipate upsets in this category from time to time, making for an exciting betting experience. Sam Mendes, Director of 1917, was the biggest favourite at -278 while Todd Phillips (Joker) was least expected to win at +5,000. Ultimately, the upset in the Best Picture award played out here again as Bong Joon Ho (Parasite) took home the prize.

    Where to Bet on Oscars in New Jersey

    pay by phone

    As the first state to legalize betting on the Oscars, New Jersey has the highest number of sportsbooks offering moneyline bets on the event. Depending on your preferences about deposit methods or bonus offers or app user interface, you can make the choice that best suits you. The New Jersey Division of Gaming Enforcement (NJDGE) is the licensing body for sportsbooks in the state, and you should look out for their logo on the site. Vital considerations to guide your choice include Security and Range of Deposit and Withdrawal Options. Favorable Odds and Promotions and Bonus offers are other features that attract new users. A downloadable Mobile App across Android and iOS platforms also always makes the user experience easier and more exciting. It is essential to find the option that you can trust, with an easy means of making deposits, which provides the most markets and best odds. Some of the best online sportsbooks in New Jersey where you can place bets on the Oscars include:

    DraftKings Sportsbook

    The DraftKings franchise is one of the two most prominent names in the Daily fantasy sports (DFS) franchise and was the first sportsbook to launch in New Jersey in August 2018. It features a unique technology with a fast user interface, live betting options, and DraftKing online Casino.

    The provider boasts a $25 non-deposit sign up bonus. You get up to 20 percent return on your first bet up to $500 and up to $500 risk-free bet on signing up. All this makes for a free bonus up to $1,025 – unrivaled by other NJ sportsbooks. There is a decent range of withdrawal and deposit options, including Paypal and Visa or MasterCard.

    The provider also features a downloadable app available on Android and iOS with pretty much identical features as the website plus a web-based version accessible on mobile and computers. DraftKings was one of the sportsbooks that offered markets on more Oscar award categories than just the big six. Come 2021, bettors can expect a lot more from this sportsbook.

    FanDuel Sportsbook

    FanDuel ranks as one of the biggest online sportsbooks by quite some distance, and came to limelight as a leader in the daily fantasy sports gaming sphere. FanDuel became the first sportsbook to have an iOS app coded natively for iPhones and iPads when they launched. The app has an elegant and straightforward interface that is easy to understand, although occasional bugs are a minus. They offer live betting options, and the overall experience with markets and odds available on the Oscars are just as good as any other online betting site in New Jersey. The Sportsbook has wagering lines for virtually every Oscars category. They offer up to a $1000 risk-free first bet offer after the user signs up in New Jersey when they deposit a minimum of $10.

    Fox Bet

    This is arguably the best NJ online betting platform available via the web and an app. The sportsbook launched following a partnership between The Stars Group, who owns PokerStars, and Fox Sports Media, creating a landmark partnership between a media and gaming outfit. The platform does not offer online transactions to make deposits and withdrawals but operates efficiently for deposits and withdrawals with Paypal and Credit cards. Their up to $500 risk-free bet for new players makes them an irresistible choice and allows you to try out those long-shot Oscar odds with no risk attached. The app is unique to New Jersey, unlike the DraftKings app, which is the same across states. It is user friendly and easy to navigate and is available to Android and iOS users via the website and Apple store. Fox Bet had markets on all the big six Oscar awards in 2020 and is ready to go again.

    Bet365

    This sportsbook brand is one of the most prestigious betting sites in the world. It launched in the United Kingdom – arguably the leading sports betting space in the world, in the year 2000. The sportsbook operates with the Hard Rock Atlantic Casino to offer its sports wagering service within the state. BET365 launched with a couple of attractive bonuses and promotions that boost each bettor’s winnings from wagers placed. The sportsbook offers an attractive matching bonus of up to $100 in Bet credits on your first bet from a minimum of 10 dollars. The wagering requirement is also decent, and bettors only have to wager the bonus amount once within 30 days, on a selection with a minimum of 1/5 (1.20) odds. JBVIPNJ, NJMAX, and NJGAMBLER are some codes to activate your account’s bonus when you launch in New Jersey. Bet365 also had markets on all the big six Oscar awards for NJ bettors. Note that the minimum age requirement for online sports betting in New Jersey is 21 years, and this also applies to wagers on the Oscars. Bettors must also be within state lines to place their wagers.

    Types of Bets to Place on Oscars in New Jersey

    Moneyline bets are the standard type of wagers that bettors can place on Oscars in New Jersey. These are the most common bets at any sportsbook, on any sport because they are easy to understand. It basically means that banking on a specific film or individual to win the award category. Among those shortlisted, some are thought more likely to win than others. Sadly for bettors, sportsbooks also know those that are likely to win and the odds reflect these predictions. The more likely winners have a negative moneyline odd, meaning that you need to wager that amount to earn $100.

    How to Win Your Oscars Bets in NJ

    While sportsbooks tend to have their eyes fixed on a particular winner at the event proper, there have been a few massive upsets in the past years. Just this year, 1917 looked nailed on to win the award for Best Picture, but Parasite took the top spot, and many of their ardent supporters cum bettors would have made some nice profit from that choice. Guessing who the eventual winner of an award correctly is not just down to luck. There are common trends, particularly as per other less popular movie awards, that give bettors a hint about where to wager their money for maximum returns. The Director’s Guild of America also gives out movie awards for the past year. A massive 77 percent of the time, their Best Picture winner matches that of the Oscars. Commonly, the Best Director award goes to the Director of the Best Picture movie, but this is also not absolute. With some adequate research and a movie-savvy mind behind you, you might even be right about that underdog prediction.

    Conclusion

    The coronavirus pandemic has changed a lot about the world as we know it, NJ included. It is quite unlikely the 2020 Oscars would have held if it was later than February due to the ensuing pandemic. The 2021 Oscars is to come, and it is yet to be seen what the landscape will look like, but these online sportsbooks will ensure NJ bettors have a chance to back their predictions from the comfort of their home. We have covered the significant aspects of Oscars betting in New Jersey and all you need to know to start winning big. Always try to compare moneyline odds across sportsbooks to ensure you get the most for that gut feeling.

    The best betting sites for wagering on the:

    FAQs

    Is it legal to bet on Oscars online in New Jersey?
    Yes, it is, provided the sportsbook where you place your wager has a license from the New Jersey Division of Gaming Enforcement.
    Who is hosting the Oscars?
    The 2019 Oscars was the first time in the show’s history that there was no host after Kevin Hart stepped down from the role, and this “mistake” led to many positive reviews making AMPAS retain the system for 2020. There will likely be no host for the 2021 Oscars.
    Where do the Oscars take place?
    The Dolby Theatre in Hollywood has been the permanent venue for the event since 2002.
    When do the Oscars take place?
    Traditionally, the Oscars hold in February every year, but the 2021 Oscars will hold in April due to the Coronavirus pandemic.
    How much does it cost to win an Oscar?
    How much it costs usually depends on the Oscar category. Movie studios typically spend upwards of $3 million as they try to send out movies to those who will screen them, to get their votes.
    How can you predict Oscars winners?
    Movies create trends when it comes to awards. There is no hard or fast rule, but a movie that has won in a particular category of less popular award events is more likely to win at the Oscars.

    Written by:

    Divya Gandotra
    Divya Gandotra
    Divya is a content research and analytics enthusiast who loves curating premium content in a diverse niche. Particularly adept in creating gambling and betting reviews to offer our users the best gambling guides in the US.
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