The 2020 Academy Awards ceremony is around the corner, and for the second year since betting on the Oscars in the U.S. became legal in some part of the nation, betting fans are warming to the task nicely, and this year’s Oscars betting numbers could be potentially be even bigger than the first. New Jersey sportsbooks like 888Sport, FanDuel and SugarHouse sportsbooks are poised to take millions Oscars bets. With more legal sportsbooks in the Garden State than ever before offering betting markets on the biggest of all of Hollywood’s awards nights, let’s run through the biggest Oscars betting categories and who are the favorites. Oscars Betting 2020 Back in 2020, New Jersey made history when it became the first U.S. to accept wagers on the Academy Awards. The 2020 Oscars are coming quickly and the Garden State is now leading the way for more now legal U.S. betting states. Most of the NJ sportsbooks will spread odds across all 24 Oscars categories, while some sportsbooks may limit themselves to the more popular betting categories like Best Picture, Best Director and Best Actor and Actress. Where/When The 92nd Academy Awards will be held on Sunday, February 9 at the Dolby Theater at Hollywood & Highland Center in Hollywood. The film industry’s big night will be televised live on ABC in the U.S. at 8 p.m. Eastern Time. The Oscars are hosted by the Academy of Motion Picture Arts and Sciences and are globally considered the film industry’s most prestigious awards for technical merit and artistic achievement. The Big 6 Oscar Betting Categories Best Actor Best Actress Best Supporting Actor Best Supporting Actress Best Director Best Picture Best Actor & Best Actress Joaquin Phoenix (-3335) and Renee Zellweger (-2500) are both big favorites to take home the gong in their respective acting categories. Phoenix starred in the psychological thriller “Joker”, based on the DC Comics character commonly known as the arch-enemy of Batman. For her part, Zellweger starred in “Judy”, a biographical drama about iconic singer and actress Judy Garland, famous for playing the role of Dorothy in the classic 1939 movie adaptation of “The Wizard of Oz”. If either Zellweger of Phoenix fail to win, it will be a shock. Best Supporting Actor & Best Supporting Actress Likewise Brad Pitt’s stunning turn in master director Quentin Tarantino’s, ‘Once Upon a Time in Hollywood’ sees him favorite to take the Best Supporting Actor Oscar and he is worth a wager at -2500. Laura Dern is an almost unbackable favorite (also at -2500) for her role as a wife struggling through a tough to watch, coast-to-coast divorce in “Marriage Story’. Margot Robbie’s portrayal ( +1000) as a naïve Fox News employee experiencing harassment in the workplace in “Bombshell” is also attracting plenty of betting action. Best Director Sam Mendes is favorite to win the Best Director award for his work behind the camera in gritty war epic, ‘1917’ and is very short in the odds at -675. If it is betting value you are looking for, Quentin Tarantino is arguably back to best with his best film since his breakout movie, ‘Pulp Fiction’, with his fable ‘Once Upon A Time in Hollywood’ seeing him placed at +1200 in the betting markets. Best Picture Any movie other than Sam Mendes’ superb war movie ‘1917’ must be considered a rank outsider in the betting markets. ‘1917’ (at Best Picture Odds of -230) already picked up best drama at the Golden Globes Awards, and notably since 2000, seven winners of that particular award have gone on to take the Oscar home. Most importantly, ‘1917’ won at the PGA awards, the most reliable of all predictors of Oscars gold, with 13 of their post-millennium winners scooping the big award. Good luck and happy Oscars betting!