N.J. first state to take legal Oscars bets
LAS VEGAS — Perhaps you weren’t sure — or didn’t care — if Gisele Bundchen’s husband and the New England Patriots won the Super Bowl this month. But you know why “The Favourite” is a favorite to win an Oscar for best costume design and you’re willing to bet on Lady Gaga snagging some hardware for her performance in “A Star is Born.”
Now, for the first time in the United States, you can legally bet on one of pop culture’s biggest nights.
New Jersey is the first state in the U.S. to allow sportsbooks to accept wagers on the Oscars, taking after a common practice in Europe and giving American fans another option besides informal office pools.
Casinos see it as a way to attract more customers to the sportsbook, even with limited bets.
“We have customers who aren’t huge sports fans, but enjoy playing games like bingo or roulette with us,” said Mattias Stetz, chief operating officer of Rush Street Interactive, which operates PlaySugarHouse.com in New Jersey. “We believe a new audience may be fans of the Oscars and want to make their viewing experience even more exciting by placing a bet on their favorite movie.”
SugarHouse has “Roma” as a big favorite to win best picture at the ceremony scheduled for Feb. 24. Some casinos are accepting bets only on best picture nominees, while others are offering more options, like best director, best actress and best actor.
While sportsbooks sometimes accept six- and sevenfigure wagers on football games and other sports, the limits for the Oscars are much smaller. Some set the limit for the amount wagered at $500 a bet.
Sportsbooks in New Jersey began opening last spring, when the U.S. Supreme Court struck down a federal ban on sports wagering. The ruling put an end to Nevada’s effective monopoly on that form of gambling.