Oscars predictions: 94th Academy Awards betting tips and analysis

Betting odds and analysis for the Oscars, 94th Academy Awards on Sunday night.

Best bet

Penelope Cruz to win Best Actress
1pt 6-1 Coral, Ladbrokes

Already advised

The Power of the Dog to win Best Picture
1pt 4-6 general (February 8)

Oscars betting preview

Hollywood loves an unexpected plot twist and we may yet see one in the Best Picture market for Sunday's 94th Academy Awards.

When the nominations for the ceremony at the Dolby Theater in California were announced six weeks ago, Netflix Western The Power of the Dog was a shade of odds-on, with bookmakers viewing Belfast and West Side Story as the most likely challengers. Soon after, the Power of the Dog looked untouchable as it was cut to as short as 2-7 to win the blue riband award.

However, heartwarming drama CODA has gathered a real head of steam in the market and, having been a 25-1 shot when the nominations were revealed, it has been slashed to as short as evens after picking up a number of other awards, including Best Picture at the Hollywood Critics Association Awards and Outstanding Performance by a Cast at the Screen Actors' Guild Awards.

It wouldn't be the first time in recent years that a more entertaining movie had pipped a dry affair at the Oscars - it was only three years ago that Green Book (which was only a 4-1 chance) got the better of the slow-moving long-time favourite Roma. The value has almost certainly gone now on CODA, which stands for Children of Deaf Adults, but the Apple TV+ movie could provide the lively finish to the Best Picture race that the musical term of the same name is known for.

Will Smith is 1-8 for Best Actor for his entertaining performance as Richard Williams, father of tennis stars Venus and Serena in King Richard, but there's another market move that looks to be well merited and worth latching on to in the Best Actress category.

Early favourite Nicole Kidman (Being The Ricardos) has drifted out to 5-1, leaving Jessica Chastain (The Eyes of Tammy Faye) as the 8-11 market leader, but getting on board with the move on Penelope Cruz to win for her superb performance in Parallel Mothers is preferred.

Formerly dismissed as a 25-1 chance, her price has crashed to as short as 4-1 and no better than 6-1 in the last couple of days. In a weak field, she would be a worthy winner.

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