Casey Affleck, star of "Manchester by the Sea," had been the
favorite to win the best actor statue for several months. But
his odds tightened as a flood of money flowed to Denzel
Washington after he took home the Screen Actors Guild award in
January for "Fences."
Ladbrokes favors Affleck with 8/15 odds, compared with 13/8 for
a Washington victory, but says it will be close.
"This is without a doubt the most competitive category of 2017,"
said Ladbrokes spokeswoman Nicola McGeady, who said a rush of
bets on Washington in recent weeks had moved the market
significantly.
Bookmakers, however, are overwhelmingly confident that "La La
Land" will take home the best picture statuette on Sunday, Feb.
26.
"At 1/7, we reckon there is an 87.5 percent chance it will win
best picture," said Feilim Mac An Iomaire, spokesman for Paddy
Power Betfair.
The musical starring Emma Stone and Ryan Gosling has faced some
recent competition from "Hidden Figures," the tale of black
female mathematicians in the 1960s space race. But at 12/1, it's
well behind the favorite.
Turnover on bets for novelty events such as the Academy Awards
and other awards shows has doubled since 2014, said Mac An
Iomaire.
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"This year, we are expecting to end up 30 percent over last year,
taking some 250,000 Euro ($270,000) in terms of the bets," he added.
Punters are finding several ways to put their money behind "La La
Land." Ladbrokes has the film 3/1 to equal the record for most wins
- currently 11 - held by "Titanic," "Ben-Hur" and "Lord of the
Rings: Return of the King." The odds for "La La Land" to beat the
record for most wins is 10/1.
Alex, 31, of London, who did not want to give his surname, said he'd
backed "La La Land" to win best picture in early December at 4/5.
"I also backed Emma Stone to win best actress at 7/4," he said.
"Unfortunately, I was restricted to only 70 pounds ($87) on the
latter.
"I was tempted to back Denzel Washington for best actor but decided
that would be my emotions making the bet. I try to keep my own
feelings on the film well away from my actual bet."
(Reporting by Melissa Fares and Jill Serjeant in New York; Editing
by Dan Grebler)
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