The silver screen on the sportsbooks: Inside betting on the Academy Awards

The 91st Academy Awards saw American sportsbooks offer and accept wagers on Hollywood 's biggest night for the very first time.

The ability to bet on the awards was a long time coming for DraftKings sportsbook director Johnny Avello , who had been creating hypothetical Academy Awards odds since the early '90s .

The closest sports equivalent to Oscars betting involves a hefty amount of subjectivity.

" Emilia Pérez " has +8000 odds to win Best Picture , tied with "Wicked" for the fifth -longest odds for the top prize.

"The Brutalist" opened as the favorite for the honor at -110, according to ESPN BET.

At the Directors Guild and Producers Guild award shows on Feb. 8 , " Anora " took home the top prizes and commandeered betting favorite status for Best Picture.

Sportsbooks in seven U.S. states are permitted to offer odds for the show.

The Colorado Division of Gaming does not allow wagers that are "not skill-based" The Indiana Gaming Commission approved the Academy Awards as an "other" type of event.

Sportsbooks tend to limit bettors to wagers around $1,000 for the Oscars.