Half as Much Money Wagered on the Oscars in New Jersey This Year
The second year of legal betting on the Academy Awards brought in only half the money
By Wayne Parry •
What to Know
Not as much money was wagered on the Oscars in New Jersey this year.
Last year marked the first time that New Jersey allowed betting on the Academy Awards, and the level of activity was almost twice as great then.
Betting on the Oscars is a small niche of New Jersey's sports betting market, which overall is challenging Nevada for the national leadership of the industry.
The amount of money wagered in New Jersey on the Academy Awards this year fell by almost half from last year's level.
New Jersey's licensed sports books took in $380,424 worth of bets on the Oscars this year, the state Division of Gaming Enforcement said late Monday. The amount paid out to settle winning bets was $340,702, leaving the industry with a win percentage of 10.44%.
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Scarlett Johansson arrives at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles.
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Billy Porter arrives t the 92nd Academy Awards at Hollywood and Highland on Feb. 9, 2020, in Hollywood, California.
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Blac Chyna arrives at the 92nd Academy Awards at Hollywood and Highland on Feb. 9, 2020, in Hollywood, California.
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Roman Griffin Davis, left, and Archie Yates of “Jojo Rabbit” arrive at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles.
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Charlize Theron attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Saoirse Ronan attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Leonardo DiCaprio attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Brie Larson attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Cynthia Erivo attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Brad Pitt attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Tom Hanks and Rita Wilson attend the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Margot Robbie attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Adam Driver and Joanne Tucker attend the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Joaquin Phoenix attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Natalie Portman attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Gal Gadot attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Renee Zellweger attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Penélope Cruz attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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(L-R) Robert De Niro and Al Pacino attend the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Sandra Oh attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Julia Louis-Dreyfus attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Director Spike Lee attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb.9, 2020 in Hollywood, California.
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Regina King arrives at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles.
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Antonio Banderas attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Laura Dern attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Chrissy Metz attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb.9, 2020 in Hollywood, California.
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Billie Eilish attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Welsh actor Jonathan Pryce and his wife Kate Fahy arrive for the 92nd Oscars at the Dolby Theatre in Hollywood, California on Feb. 9, 2020.
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Writer-director Greta Gerwig attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Bong Joon Ho attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Janelle Monáe attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Kelly Marie Tran attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
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Caitriona Balfe attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb.9, 2020 in Hollywood, California.
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Kristen Wiig attends the 92nd Annual Academy Awards at Hollywood and Highland on Feb. 9, 2020 in Hollywood, California.
Last year marked the first time that New Jersey allowed betting on the Academy Awards, and the level of activity was almost twice as great then. In 2019, New Jersey sports books took in $747,696. The amount paid out to settle winning wagers was $565,179, leaving the industry with a win percentage of 24.4%.
Betting on the Oscars is a small niche of New Jersey's sports betting market, which overall is challenging Nevada for the national leadership of the industry, with over $5.8 billion worth of bets having been made in New Jersey since it began offering such bets in June 2018.
“Parasite” won the award for best picture during Sunday's Academy Awards telecast. Joaquin Phoenix won the best actor award for “Joker” and Renée Zellweger won the best actress award for “Judy.”
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Bong Joon Ho and the cast of “Parasite” reacts as they receive the “Best Picture” Academy Award from presenter Jane Fonda on Feb. 9, 2020, at the Dolby Theater in Los Angeles. “Parasite” made Oscars history on Sunday when it became the first foreign language film to win the Oscars’ biggest category.
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South Korean film director Bong Joon-ho poses with his engraved awards as he attends the 92nd Oscars Governors Ball at the Hollywood Highland Center in Hollywood, Feb. 9, 2020. “Parasite,” Bong’s latest work, made Oscar history when it became the first foreign language film to win the “Best Picture” award on Sunday.
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Scarlett Johansson, left, congratulates Laura Dern for winning best supporting actress for “Marriage Story” at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles.
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Tom Hanks, right, turned heads when he dropped on the red carpet at the Academy Awards and did a few push-ups alongside an army sergeant on Feb. 9, 2020, at the Dolby Theater in Los Angeles.
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Janelle Monae performs onstage during the 92nd Oscars at the Dolby Theatre in Hollywood, California on Feb. 9, 2020.
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Cynthia Erivo performs onstage during the 92nd Annual Academy Awards at Dolby Theatre on Feb. 9, 2020 in Hollywood, California.
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Janelle Monae, left, and Billy Porter perform onstage at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles.
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Steve Martin and Chris Rock (R) speak onstage during the 92nd Oscars at the Dolby Theatre in Hollywood, California on Feb. 9, 2020.
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Regina King, left, presents Brad Pitt with the award for best performance by an actor in a supporting role for “Once Upon a Time in Hollywood” at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles.
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Idina Menzel and Elsa voice actresses perform onstage during the 92nd Oscars at the Dolby Theatre in Hollywood, California on Feb. 9, 2020.
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(L-R) Maya Rudolph and Kristen Wiig speak onstage during the 92nd Annual Academy Awards at Dolby Theatre on Feb. 9, 2020 in Hollywood, California.
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Julia Louis-Dreyfus and Will Ferrell speak onstage during the 92nd Annual Academy Awards at Dolby Theatre on Feb. 9, 2020 in Hollywood, California.
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James Corden, left, and Rebel Wilson present the award for best visual effects at the Oscars on Sunday, Feb. 9, 2020, at the Dolby Theatre in Los Angeles.
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Elton John performs onstage during the 92nd Annual Academy Awards at Dolby Theatre on Feb. 9, 2020 in Hollywood, California.
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Billie Eilish performs onstage during the 92nd Oscars at the Dolby Theatre in Hollywood, California on Feb. 9, 2020.
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Joaquin Phoenix accepts the Actor In A Leading Role award for ‘Joker’ onstage during the 92nd Annual Academy Awards at Dolby Theatre on Feb. 9, 2020 in Hollywood, California.
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Renée Zellweger accepts the Actress in a Leading Role award for ‘Judy’ onstage during the 92nd Annual Academy Awards at Dolby Theatre on Feb. 9, 2020 in Hollywood, California.
