Feb 4th, 2009 - betED.com Press Release - betED.com unveils Academy Award odds

betED.com has posted odds for the Academy Awards - one of the most popular prop betting events each year - and Slumdog Millionaire is a big favorite to win the Oscar for Best Picture.

The story of a teenaged orphan who finds himself on the verge of winning India's version of Who Wants To Be A Millionaire, is a -350 moneyline favorite to win the top prize in betED.com Oscar betting odds.

The Curious Case of Benjamin Button is next at +300, followed by Milk at +500, Frost/Nixon at +900, and The Reader at +1100.

Mickey Rourke, who's had a successful comeback this year with his critically acclaimed performance in The Wrestler, is the top pick to win the Best Actor Oscar at -150 odds.

Sean Penn isn't far back at +120 odds for his portrayal of Harvey Milk, the first openly gay man to be elected to public office in California, in Gus Van Sant's biopic Milk.

Frank Langella (+600) for Frost/Nixon, Brad Pitt (+900) for The Curious Case of Benjamin Button and Richard Jenkins (+900) for The Reader, round out the Best Actor nominees.

Kate Winslet, for The Reader, is the favorite to win the Best Actress Oscar, at -170 odds.

Anne Hathaway is at +175 for her performance in Rachel Getting Married. Meryl Streep is +300 for Doubt, and Melissa Leo, for Frozen River, and Angelina Jolie, for Changeling, are both +900.

The late Heath Ledger is the overwhelming favorite to win the Oscar for Best Supporting Actor, at -2500 odds, for his chilling portrayal of The Joker in The Dark Knight.

Other nominees are Philip Seymour Hoffman (+1200), Josh Brolin and Michael Shannon (both +1500), and Robert Downey Jr. (+2800).

Penelope Cruz is the favorite to win Best Supporting Actress (-165), followed by Viola Davis (+250), Marisa Tomei (+300), Taraji P Henson (+800), and Amy Adams (+900).

Danny Boyle, for Slumdog Millionaire, is favored to win best Director at -350, followed by David Fincher (+350), Ron Howard (+900), Gus Van Sant (+1100), and Stephen Daldry (+1400).

The 81st Academy Awards take place Feb. 22 at 8 pm ET on ABC.

Check out all the great Prop Bets at betED.com.