On February 24, Hollywood elites and other film professionals gather to observe all things cinema for the 91st Academy Awards.
The biggest films of this year go head-to-head vying for top honors, aka a statue which looks like a Ken doll that dropped into a vat of matte gold nail polish. Winners are chosen by members of the Academy of Motion Picture Arts and Sciences (AMPAS), a company comprising approximately 6,000 film industry professionals.
Oddsmakers calculate Academy Awards gambling odds by discovering each nominee’s likelihood of winning their respective class. Among the great things about Oscar betting lines is they often arrive with low juice — commission that the sportsbook takes from every wager. Since wagering on the Oscars only comes after yearly, unlike betting on football, online betting websites provide cheaper lines to provide bettors a bonus.
One of the biggest betting opportunities is a bet on Best Picture. But, among the worst beats in the background of betting arrived on February 26, 2017, when Faye Dunaway and Warren Beatty presented the award for Best Picture. For those who have chosen to block this from memory, here’s a recap:
Dunaway and Beatty announced that La La Land had won the Oscar for Best Picture. Unfortunatly, the winner was Moonlight. It was only when the producer of La La Land, Jordan Horowitz, accepted the award which the mistake was realized. Dunaway and Beatty had been given the wrong envelope — the one containing the outcomes for Best Actress, that had been given to Emma Stone. It was a huge upset, and of course it was an embarrassing moment would be an understatement.
La La Land was the heavy favorite and bettors thought they would be collecting their winnings after Bonnie and Clyde announced Best Picture. Unfortunately, those bettors found themselves on the losing side of a bad defeat. On the other hand, those who shot Moonlight to win Best Picture had it created.