Entertainment betting began as novelty wagers, but in recent years, they have become a lot more popular. In today’s betting market, they’re firmly out of the recreational category, even though betting limits are still lower than major sports, these are not markets bettors should ignore for potential +EV wagers. Entertainment betting markets expand every year. These makeup award shows, such as the Oscars, music awards, and other honors.
Before you start wagering on entertainment, we suggest you get down the basics of betting sports online. That means signing up at the right sportsbook, make a deposit, get a bonus, and finally make a bet. Placing a bet on the entertainment betting market is the same as betting on most sports. If you’ve been betting for a while, you’re already familiarized with the process.
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Betting On Awards Shows
Awards shows make up the majority of entertainment betting markets. There is no bigger awards show to bet on than the Oscars or Academy Awards for motion pictures. Its easily the biggest show of the year and is held each February for the motion pictures. Sportsbooks won’t have odds on every award at the Oscars, but they will offer betting options for all of the major categories, such as Best Actor, Best Actress, Best Director, and Best Picture.
As far as television and film award shows, there are several more. The Golden Globes and Grammys are usually available if the sportsbook offers novelty betting markets. Once again, popular categories here are Song of the Year, Album of the Year, etc. There are several more international or British-based awards shows. It’s a coin-flip as to whether or not an American-facing sportsbook will offer betting odds on these events. Nevertheless, they are certainly available in international markets.
Reality Television Betting
The less than classy crop of television, known as reality TV, is also one that sportsbooks and bettors have taken an interest in wagering. As far as options, there’s nearly an unlimited amount of reality television these days. The most common betting market that you will see at most sportsbooks that offer entertainment betting are singing competition shows, like The Voice or American Idol. The odds are available for just about every season.
Entertainment Betting Markets
Some bookmakers will offer odds on more prestigious awards, such as the Nobel Prize. There are also novelty markets that tie into entertainment or pop culture, such as betting on the name or sex of a celebrity baby or which character will be killed first in the season 8 of Game of Thrones.
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Entertainment Betting Tips
Entertainment betting certainly falls into the small market category. Most sportsbooks have lower limits on novelty markets, although, this can vary depending on the event and bookmaker. There isn’t a go-to strategy when it comes to betting these markets. All the basics, such as line shopping apply, which is particularly important for futures markets like entertainment wagering.
Today, more and more betting portals and blogs are coming out with articles that preview big events in entertainment from an odds perspective. Line shopping is particularly valuable for entertainment betting. Futures markets, in general, are notoriously highly juice, so getting the best price available can make a big difference. Also, since it’s a smaller market, odds won’t move in unison like do they do with larger markets in most cases. Bettors will often find large differences between sportsbooks, which can offer some huge savings on pricing.
You will likely find threads in betting forums on the Oscars or other novelty betting markets, but that may not always be the place for the best information. Gossip blogs or movie blogs, along with a knowledge of the entertainment industry can provide more value. Entertainment betting is one of the least efficient markets. There are many times when the oddsmakers miss out on insider information. Upsets happen, and large underdogs regularly take down top prizes or awards.