Entertainment betting is a subdivision of traditional gambling and one that has gained a lot of traction in recent years. One of its most appealing categories is awards betting, a form of gambling that focuses on festive occasions. While the name speaks for itself and it is easy to place a bet on such competitions, beating the odds can be a challenge. The good news is that all the important bookmakers have a section dedicated to it and with sufficient research and the right tips, anyone can boost the odds of winning.
What are Awards Betting?
What initially began as novelty wagers grew up into a fully fledged category called specials betting. It includes all the popular forms of entertainment, such as music and TV shows, awards and, of course, awards betting. There are plenty of festivities scheduled on a yearly basis that celebrate the achievements of the most accomplished artists. Major bookmakers allow their members to bet on the winners of these events, as well as bet on special markets.
Betting on Oscars is arguably the most popular type of betting awards, alongside bets on Eurovision. The odds are published well in advance, as soon as the nominees and participants are announced. This gives punters sufficient time to make up their minds, research the market and place bets. Generally speaking, the betting limits are lower than what is offered by the same bookmakers on classic sports. Otherwise, the betting process is identical and the same link between risks taken and potential winnings does apply.
Types of Markets when Betting on Awards
Depending on the magnitude of the event, the number of betting awards markets can differ wildly. You can always expect top bookmakers, such as bet365 sports to offer odds on the outright winners. When betting on those events that have a multitude of competitors, the number of markets also grows. To mitigate the risks, you can bet on the final placement of both favorites and underdogs. Some of the most exciting bets are on head to head contests indicating who finishes higher in the standings.
Read our Betway review to find out how the celebrated bookmaker matches against the field in regards to awards betting. Movie fans get to choose between Best Actor, Best Actress, Best Director and Best Picture markets when betting on Oscars. For the Golden Globes and Grammys the betting markets include Song of the Year, Album of the Year among others. Other bookmakers have expanded their portfolios to also include national music, movie and talent contests.
Pinnacle Esports is famous for the high odds offered to those who bet on videogame competitions. The bookmaker proved to be just as generous when it comes to betting on awards. Its portfolio includes reality television betting on popular shows such as The Voice or American Idol. This is also a good place to bet on more serious awards, such as the winners of the Noble Prize. At the opposite end of the spectrum, their specialty betting markets include the gender of a celebrity baby.
Effective Awards Betting Tips
Betting on entertainment is definitely fun but not necessarily easy. Because of the obvious lack of information and multiple variables involved, punters can have a hard time picking winners. These awards betting tips are easy to understand and use to level the playing field and minimize the house edge.
Past performance predicts future results
When betting on award ceremonies it pays off to look at the past performance of all competitors. For the Oscars, you can check out the results of the Golden Globes, Bafta and SAG Awards to gain valuable insight.
Play the meta game
Valuable information regarding the odds of winning can be gained by looking at gossip and controversies. Actors and actresses, as well as singers and talented people performing in TV shows have a background. Sometimes, their personal lives and things that have nothing to do with their performance can influence the voters.
Don’t ignore the social trends
Additional details about the odds of actress, actors and singers winning certain events can be found on social media. Even if you don’t normally follow these social trends, you should take the time to do it when you plan on betting on awards.