Online entertainment betting is wagering on anything you can find in the entertainment industry, from award shows like the Grammys and Oscars to television shows like Game of Thrones.
Similar to sports betting, odds show which event is likely to happen, or who is favored to win the bet.
HOW TO BET ON ENTERTAINMENT
Betting on entertainment events, like the next winner of a reality show, is similar to wagering on sporting events like the Superbowl.
First off, there are no gambling sites that are solely entertainment betting sites.
Sportsbooks usually offer the best entertainment odds for bettors in the same fashion as sports betting.
Bookmakers in the United States always present entertainment odds in the American odds format.
Sports betting sites calculate a bet’s odds based on factors that can affect its likelihood of happening.
For example, for the Oscars, you bet that the movie that wins Best Picture will also win Best Cinematography.
The probability of that happening will be calculated by oddsmakers, and presented in the American odds format:
Same Film to Win Both Best Picture and Best Cinematography
- Yes (+140)
- No (-180)
This odds format is characterized by (-) or negative and (+) or positive signs.
A negative figure shows how much you have to bet to win $100. It also shows you the favored outcome.
The positive figure, on the other hand, shows how much you can win if you bet $100. Conversely, it shows the underdog or the outcome that’s least likely to happen.
In the example above, if you wagered “yes” and that bet wins, you can get a total payout of $240 ($100 bet plus $140 profit).
Meanwhile, betting on “no” gets you a total payout of $280 ($180 bet plus $100 profit).
Note that it’s safer to bet on “yes” rather than “no” because it involves you wagering a lower amount ($100 vs. $180).
Bookmakers devised this system so that bettors will still wager on the (+) positive bet despite not being the favored outcome.
Remember that American odds use a standard base of $100 to make gambling a lot easier. However, bettors can still wager any amount of money they want!
As for banking options, the most common payment methods are e-wallets and credit cards, and, more recently, cryptocurrency like Bitcoin.
TYPES OF ENTERTAINMENT BETS
There are many entertainment betting options available on online sportsbooks. One of the most common is betting on television shows, which there are several ways to do.
For example, the hit HBO series Game of Thrones was popular among bettors before it concluded its run.
Many gamblers speculated on who would end up sitting on the Iron Throne:
Who will win the Game of Thrones?
- Jon Snow (+300)
- Sansa Stark (-600)
- Daenerys Targaryen (+900)
This is an example of a futures bet, which is also a type of wager done in sports betting. Basically, a futures bet involves gambling on events that are yet to happen.
In the example above, it’s clear that Jon Snow has the highest chance of winning the bet because he has the shortest odds.
In futures betting, the higher the odds, the lower the chances of winning are.
Although Jon has the shortest odds, it’s much safer to bet on Sansa since she is the favored winner with her (-) or negative odds. Meanwhile, Dany comes in last with +900 odds.
If you were to bet on Jon Snow and he ended up sitting on the Iron Throne, you would get a total payout of $400 ($100 bet plus $300 profit).
However, if you were to bet on Sansa, you would end up with a total payout of $700 ($700 bet plus $100 profit).
If you bet on Dany and lost the bet, you’d get $0, losing your $100 wager. However, if the Mother of Dragons wins the Iron Throne, you’d get a whopping $1000 payout ($100 bet plus $900 in profit).
You could also make prop bets or propositional bets, not just for TV Shows but for all types of entertainment bets.
Prop bets, like Futures bets, are also offered in sports betting.
These bets are more unconventional than the usual wagers and involve betting on specific individuals or events.
For example, in the professional wrestling show WWE Raw, you can bet on whether a match between John Cena vs. Randy Orton will have the longest ring time or not.
This is likely to happen since both are veteran wrestlers who can hold their own in a fight.
Wagering on reality shows is also extremely popular in the world of entertainment betting.
Reality TV, which includes competition shows, talent shows, and other contest shows, is a major source of entertainment for many Americans.
Thanks to its nature of weekly and even daily airing, as well as it being (supposedly) unscripted, bettors can make all kinds of wagers.
Who gets eliminated, at what round will the contestant be eliminated, and who wins the season are some of the examples of entertainment betting on reality TV.
Like betting on TV series, you can also make futures and prop bets on reality shows.
Futures betting lines, like show winners, are placed early during the show’s start and are adjusted weekly for accuracy.
Who is the Next American Idol?
- Just Sam (-195)
- Arthur Gunn (+300)
- Dillon James (+500)
- Francisco Martin (+950)
- Jonny West (+1200)
Some eccentric prop bets can also be placed during the start of the show, for example:
Which Judge will Leave first?
- Lionel Richie (+110)
- Katy Perry (+135)
- Luke Bryan (+250)
There are even prop bets on what the gender of the next winner will be, or what song will be performed for the season finale.
Reality Shows Popular in Entertainment Betting:
- America’s Got Talent
- The Voice
- American Idol
- The Bachelor
- Big Brother
- Dancing with the Stars
- Let’s Dance
Usually, entertainment betting on movies gets mixed up with Awards betting (Academy Awards, Golden Globes, and more).
However, there are other ways of betting on movies that don’t include wagering on whether they win an award or not.
Some examples of entertainment bets on movies:
- Which actor will next take up the mantle of 007 and become the next James Bond?
- Betting over/under on the movie’s box office (whether it will go over or under a certain amount as set by the bookmakers)
- Betting over/under on a movie’s ratings on Rotten Tomatoes (ex: over 90% or under 90% in the Tomatometer)
The first is an example of a fun prop bet, while the rest are Over/Under or Totals bets, which are also offered in sports betting.
Betting on Award shows is probably the most popular type of entertainment betting. An example of this is betting on who wins Best Actor or Best Director, or which movie wins the Best Picture.
Still, awards betting isn’t limited to just motion pictures, television, or even music awards.
There’s also betting on sports awards and even humanity awards.
Listed below are the most common awards shows that sports betting sites offer entertainment betting odds for:
Awards Shows for Movies and Television
- The Academy Awards or Oscars
- Primetime Emmy Awards
- Golden Globes
- MTV Movie Awards
- MTV VMAs
- Grammy Awards
- Brit Awards
- Tony Awards
- Mercury Prize
- Time’s Person of the Year
- Nobel Prize
Betting on the Oscars is the most popular form of entertainment betting. It involves wagering on the possible nominations, winners, and even who the host will be.
- Whether a specific movie will be nominated for best picture
- Whether a foreign director will be nominated for best director
- Whether a foreign film will win the best picture
Betting odds for the winners of an award will have futures odds.
- Viola Davis (+300)
- Amy Adams (+550)
- Merryl Streep (+700)
There are also quirky prop bets. You can wager that a certain actress will wear a black dress, or whether the winner for Best Supporting Actor will give a lengthy acceptance speech.
Contests are also popular among entertainment bettors, especially for annual competitions such as:
- Miss Universe
- Miss America
People even bet on Nathan’s Hot Dog Eating Contest, as well as the National Spelling Bee.
For contest betting, you can make futures bets and wager on who you think will be the contest’s winner. However, you can also make prop bets on whether a specific contestant will be wearing braces or glasses.
For Nathan’s Hot Dog Eating Contest, there are even Over/Under or Totals bets on the number of total hot dogs consumed by contestants!
Bookmakers get creative when it comes to entertainment betting, which shows why many bettors are trying their luck on these types of wagers.