Betting on major league sports has grown over the years, with more states legalizing online sports betting.

Sports bettors have also been drawn to novel betting avenues, including on political outcomes through cryptocurrency prediction markets.

Bettors now have the option to wager on award show outcomes as well, like the upcoming 96^th Academy Awards.

What Happened: Two of the top grossing 2023 movies were released on the same day, creating a pop culture phenomenon. "Oppenheimer" and "Barbie" have also been among the most nominated movies on this year's movie awards circuit.

The two movies will face off in several categories, including for the iconic Best Picture award.

"Oppenheimer" leads the way with 13 Academy Award nominations. The movie from Comcast Corporation (NASDAQ:CMCSA) and grossed $326.1 million domestically and $957.7 million globally. The movie was recently added to the Peacock streaming platform owned by Comcast.

"Poor Things" from The Walt Disney Company (NYSE:DIS) owned Searchlight brand has 11 nominations.

"Killers of the Flower Moon" from Apple Inc (NASDAQ:AAPL) has 10 nominations.

"Barbie," which comes from Warner Bros. Discovery (NASDAQ:WBD) and is based on the Mattel Inc (NASDAQ:MAT) brand has eight nominations. The movie grossed over $1.44 billion worldwide.

Among the most nominated companies for the Academy Awards are Disney with 20 and Comcast and streaming company Netflix Inc (NASDAQ:NFLX) tied for second at 18 nominees each.

The 96^th Academy Awards air on Disney-owned ABC at 7 pm. ET on March 10 and will see many of the key categories televised. Bettors at many major sportsbooks can place bets on some of the key awards.

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Betting Odds: Here's a look at betting odds for some of the key award races from sports betting platform DraftKings Inc (NASDAQ:DKNG) and which movies and people received awards at the Golden Globes and Screen Actors Guild Awards, which sometimes can predict the winners of the Academy Awards.

Best Picture

• "American Fiction": +8000
• "Anatomy of a Fall": +4000
• "Barbie": +3500
• "The Holdovers": +2500
• "Killers of the Flower Moon": +6500
• "Maestro": +15000
• "Oppenheimer": -5000
• "Past Lives": +10000
• "Poor Things": +2000
• "The Zone of Interest": +2500

Christopher Nolan is also the heavy favorite to win Best Director for "Oppenheimer" with odds of -5000. Nolan won the Best Director Golden Globe Award.

Oppenheimer star Cillian Murphy is also a large betting favorite to win Best Actor with odds of -1000, which means a $1 bet pays out a profit of 10 cents if correct. Ranking second at odds of +500 is Paul Giamatti for "The Holdovers." Murphy and Giamatti each won Golden Globes, while it was Murphy winning the Screen Actors Guild Award.

Robert Downey Jr. is also a heavy betting favorite for Best Supporting Actor for his role in "Oppenheimer" at odds of -3500, paying a two cent profit on a $1 bet. DaVine Joy Randolph is the betting favorite at odds of -3000 for Best Supporting Actress for her role in "The Holdovers." Both Downey Jr. and Randolph won Golden Globes and Screen Actors Guild awards.

"Anatomy of a Fall" won the Best Screenplay at the Golden Globes and is the betting favorite at -280.

While “Barbie” may not win any of the big awards, it is the betting favorite for Best Original Song. "What Was I Made For?" and "I'm Just Ken" rank as the top two betting odds for the category at -750 and +450, giving "Barbie" two frontrunners for the award out of five nominees.

Read Next: Barbie Movie Magic: Here's How Much Margot Robbie Made For Her Starring Role And Producing Hit Film

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