Updated Oscar Betting Odds

With the 79th Annual Academy Awards only days away, Pinnacle Sports have announced updated odds on the seven major Oscar categories recognizing excellence in motion pictures.

Pinnacle Sports was the first bookmaker in the world to offer odds on this year's Oscars, releasing betting lines just minutes after the nominees were announced last month.

Heading into Sunday's award ceremony, The Departed has been pegged as the early favorite to win the Oscar for Best Motion Picture (1/1) and Best Director for Martin Scorsese (1/6). Pinnacle Sports lists Forest Whitaker as the favorite to capture Best Actor honors for his role in The Last King of Scotland at 1/6 odds. Meanwhile, Helen Mirren is a virtual lock to win Best Actress listed as an overwhelming 1/32 (i.e., win $1 for every $32 bet) favorite to win the award for her role in The Queen. Although Dreamgirls was not nominated for Best Picture, Eddie Murphy (2/3) and Jennifer Hudson (2/7) are favored to capture the Academy Award for Best Supporting Actor and Actress, respectively.

All eyes will be on Hollywood's finest as the winners are announced during the awards ceremony on Sunday, February 25th. Below are the current odds offered by Pinnacle Sports with nominees appearing in descending order from favorites to long shots under each category heading.

Current Odds

Best Motion Picture:

The Departed 1/1

Little Miss Sunshine 3/1

Babel 7/2

Letters From Iwo Jima 15/1

The Queen 17/1

Best Director:

Martin Scorsese 1/6

Alejandro Gonzalez Inarritu 9/1

Clint Eastwood 19/1

Paul Greengrass 21/1

Stephen Frears 36/1

Best Actor:

Forest Whitaker 1/6

Peter O'Toole 7/1

Leonardo DiCaprio 18/1

Will Smith 40/1

Ryan Gosling 70/1

Best Actress:

Helen Mirren 1/32

Meryl Streep 19/1

Kate Winslet 32/1

Penelope Cruz 32/1

Judi Dench 39/1

Best Supporting Actor:

Eddie Murphy 2/3

Alan Arkin 5/2

Djimon Hounsou 15/1

Jackie Earle Haley 16/1

Mark Wahlberg 26/1

Best Supporting Actress:

Jennifer Hudson 2/7

Abigail Breslin 7/1

Cate Blanchett 16/1

Rinko Kikuchi 19/1

Adriana Barraza 32/1