When it comes to betting on the Academy Awards, many potential gamblers may make the mistake of thinking that it works like betting on the outcome of a sporting competition. This isn’t necessarily the case. Read More Sports have a huge amount of variables that need to be taken into consideration when placing a bet and all of these influences mean that anything can happen during the contest, making it hard to be certain of the outcome.Meanwhile, the Oscars have relatively little in the way of transient variables present in sports games or tournaments, making the criteria for determining a winner simultaneously harder and easier. The Oscars have fixed nominees and the results are decided well ahead of time. This means that there is much more time to analyse the situation and make a rational decision.However, the Academy Awards use a panel of judges to reach a decision, meaning that the personal tastes and interests of the panel play a role, leading to some surprising results. This reliance on subjective views of a film and its actors may prove frustrating to sports gamblers who are instead used to an objective summary of a competition and making a decision based purely on the facts.The relatively fixed nature of the Oscars also mean that the bookmaker’s odds will not greatly change over time unless unforeseen events get in the way.However, just because there might not be the crazy odds that some sporting events can provide, there is still plenty of scope to profit. This is because careful analysis of the available information released in the months leading up to the ceremony can help people work out who the winner will be and bet with confidence.People also liked:✅ Looking for free spins? Here are the best free spins on registration with no deposit✅ Looking for trusted sites? Here is a list of the best online casinos in the UK✅ Want to start playing with an extra bonus? 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We have listed our hottest betting predictions below:Latest Best Picture Betting Odds1917: 8/11 (Betfred)Once Upon A Time In Hollywood: 9/2 (Bet365)Parasite: 7/2 (William Hill) – Winner of the Oscars 2020Joker: 15/1 (Paddy Power)The Irishman: 49/1 (Bet365)Jojo Rabbit: 79/1 (Bet365)Marriage Story: 99/1 (Betway)Little Women: 199/1 (Bet365)Ford v Ferrari: 199/1 (Bet365)1917 to win the Best Picture AwardThe British war drama 1917 is the clear favourite to win this year’s Best Picture Award. The film has been praised for its incredible cinematography but the story itself is equally fascinating. 1917 won the Best Motion Picture award at the Golden Globes while scooping up a total of 9 nominations. Can it win at the Oscars as well?Moonlight (2016) was the latest film to do ‘The Double’ by winning Best Drama at the Golden Globes and the Oscars Best Picture in the same year, but 1917 is an excellent bet to do the same at 8/11 with Betfred. The film has been nominated for 10 different awards and will likely be the biggest winner at the 2020 Academy Awards.Bong Joon Ho to win the Best Director AwardBong Joon Ho is the first Korean ever to be nominated for the Best Director Award, and we think he stands a good chance of actually winning it.Parasite has received widespread praise from critics and is currently rated at 99% on Rotten Tomatoes. The film is nominated across six different categories, but a lot of the attention and media coverage has been given to Bong Joon Ho himself. Sam Mendes is the favourite for his work with 1917 at 8/13 with Skybet, but the 9/4 offered by William Hill on Bong Joon Ho is the most attractive punt here.