The Oscars: Can You Bet on Them In Las Vegas?
Introduction: Can You Bet On The Oscars In Las Vegas?
You would imagine that being in Las Vegas means that you can bet on anything. For example, go to the casinos and bet on any of the jackpot games there. Pop into any sportsbook and bet on any sports. And you’d be right. You can certainly do those things. Now if you consider for a moment just how popular betting on the Academy Awards, otherwise known as the Oscars are, and how much betting takes place around who’s going to be a winner on the night, then being able to have a wager on then in Las Vegas is a certainty. Not so! But if you want to bet in Sin City, on who’ll be winning one, then you’d be out of luck.
At Bovada, you can find plenty of bets on celebrities and politics
Vegas Doesn’t Allow Entertainment Betting
Of course, Las Vegas is home to thousands of sportsbooks. Through them, you have the possibility to bet on just about anything you can think of. Sports like basketball and football are stable favorites. But you can also bet on more obscure sports such as badminton and table tennis in order to increase your jackpot winning chances. But when it comes to placing bets on the ups and the downs of the entertainment business, then you’ll not find a single bookmaker. So there’s no chance on betting on the outcomes of the Oscars, the Golden Globes, or the Grammies.
Why Hasn’t Nevada Approved Oscars Betting?
There are a ton of reasons why the state of Nevada hasn’t got round to approving the betting on entertainment. Let’s go through some of them…
Previous Denial
Way back in 2012, the Nevada Gaming Control Board (NGCB) received but one request for betting on entertainment. It was denied for the rather surreal reason that they could approve it as nothing had been approved in regards to entertainment licensing before. But they claim that they are still open to request. It all makes absolutely zero sense and makes one think that there’s actually an ulterior motive at play. So, that’s why you can’t find any bookmakers to accept your Oscar bets. And, judging from the amount of red tape being hung around these new events, we don’t imagine that Nevada will be offering entertainment betting for a long time.
No Recent Requests
Following on from the above, the last request for Oscar betting was in 2012. And the last request for political betting was a year later in 2013. Since then, there have been no known successful requests. It’s weird because Las Vegas is home to many major sporting events. You might also imagine that the bookmakers themselves would be looking forwards to more business. But there’s not a whimper from them in regards to entertainment betting. Maybe they’re making enough money from sports betting to bother with entertainment.
Sports Books Don’t See Massive Profit Potential
As a sports bookmaker, you don’t just throw out a line and cross your fingers. Each market has to be carefully considered. So, though we feel that bookmakers could certainly make some bank with the Oscars, they don’t really see the event as being overly profitable. Because if they did, you can bet your bottom dollar, they’d be pushing for it like mad.
Wait & See Approach
Today there are a number of US states where sportsbooks have been able to set up a business. Each state will have its own by-laws with regard to gambling. And some have chosen the route of Nevada in forbidding the wagering on the entertainment industry. So we suspect that Nevada regulators are waiting to see how this form of gambling is working out in other states which already have it. If those are proving successful, then we can imagine that the betting companies will start sending out requests to the state gaming control board.
Will Vegas Ever Be Able To Offer Oscars Betting?
Well, as a gambler, you’d know that no one can predict the future. As far as sports betting goes, you have to remember that not so far back, the Silver State was the only place that would accept sports bets. In 2018, that situation changed and other states could join in on the fun. So now Vegas has more competition than ever. Having said that, Sin City still appears to be able to draw the lion’s share of sports betting. But how long this state of affairs can continue is anyone’s guess. That’s why it’s becoming more important for the state to really make the effort to get behind a bid for betting on entertainment.
The thing is, that Oscar betting, along with general entertainment betting is a great way for Las Vegas to expand its market place. And they could keep it that way if they could only pick up some entertainment betting. We think that it’s going to happen sooner rather than later. Many punters feel the same way. The prediction is that you’ll finally be able to bet on the Oscars from Las Vegas by 2022.
Where Can You Bet On The Oscars?
In Vegas, you can’t place a wager on the Oscars, but there are other states where it’s perfectly possible.
New Jersey
For years this state had complained that it was unfair that only Nevada had the legal right to allow sports betting. Once the Garden State received permission to allow sportsbooks, they wasted little time in setting up bookmakers and allowing then to accept bets on more or less anything. Including entertainment and therefore the Oscars. But do keep in mind, that betting on the Oscars does still have some limits in place. Namely, that you can only wager up to $500. Quite why this limit is in place, who knows. After all, you can bet whatever you want with all your jackpot winning tips and tricks, on any other sports, like tennis, football, and basketball. So it really makes no sense. On the other hand, many will point out, that only two states allow for entertainment betting, so New Jersey should count its lucky stars and not get too upset about the betting amount limits.
Colorado
Only as recently as 2019, has this state legalized sports betting. Even though their betting marketplace is still very much in its infancy, the Centennial State does include entertainment betting, and this covers the Academy Awards. Of course, with betting being so new to the state, it’s not on the level of New Jersey, and it’s gambling hub, Atlantic City. But with a population of 5.8 million people, along with massive home-grown tourism industry, we can see a bright future ahead for the state betting-wise.
Offshore Sports Books
The thing is that the majority of US gamblers don’t really upset themselves at not having access to US-based sportsbooks in order to bet on events such as the Oscars. That’s because they’ve always been able to do so thanks to offshore betting. There are so many offshore betting companies only too happy to service US-based customers. Though they may not have approval from US gambling commissions or authorities, they do have the necessary licensing from their own jurisdictions. So though you might hear horror stories about these sportsbooks being “unregulated” and “black market”, keep in mind that these tall tales come from the US itself.
We all know that these casinos and sportsbooks have to adhere to local laws. So if the company is based in Antigua or Costa Rica, then those countries’ laws are the one’s to be respected. There are US states that these companies do avoid. This is thanks to strict anti-gambling laws. These include New Jersey, Nevada, and Colorado. But the vast number of US-based gamblers can access and use these offshore betting companies without any fear of negative consequences.
Other Countries
As far as the US is concerned, sports gambling is a fairly new concept, with all sports betting markets being relatively new. Operators there are still finding out what works and what doesn’t. But around the globe, there are any number of countries who have had access to sports betting for ages. Take the UK for example. Sports betting was legalized back in 1961. So the UK now enjoys a mature and extensive sports betting marketplace. This includes betting on entertainment events such as the Oscars. There are many other European countries that allow betting on the Academy Awards.
Conclusion: Can You Bet On The Oscars In Las Vegas?
It’s weird that the Nevada Gambling Control Board hasn’t approved entertainment betting. Meaning that you can’t bet on the best actor at the Academy Awards. The fact that you can go into any casino in Las Vegas and wager to your heart’s content at the table games and the jackpot slots makes this decision even more bizarre. Though in their defense it must be stated that they haven’t actually received an application for such a thing since 2012. Maybe they would be more open to a newer application.
But until that happens, then you can’t wager on TV shows or award ceremonies. As this appears to be leaving money on the table, we think that entertainment gambling will be coming to Las Vegas sportsbooks sooner rather than later. If you’re desperate to bet on the Oscars, simply go online. You’ll quickly find an offshore sportsbook to fulfill your requirements.
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