The film "CODA" and leading actress Jessica Chastain ("The Eyes Of Tammy Faye") saw their 2022 Oscar odds spike Monday after surprise wins in the 27th Screen Actors Guild Awards.

“CODA” nabbed the principal honor of the night Sunday during the SAG Awards ceremony in Santa Barbara, California. The SAG Awards honor performances in both television and film. “CODA” won “Outstanding Performance By A Cast In A Motion Picture.” It beat fellow Oscar Best Picture nominees “Belfast,” “Don’t Look Up,” and “King Richard.”

AND THE WINNER IS: 2022 Oscar Betting Odds & Analysis

The return on “CODA” to win Best Picture honors at the 2022 Academy Awards on betting sites was cut in half following its win at the SAGs. The film was +2000 at BetMGM on Sunday and moved to +1000 when that market reopened Monday.

“CODA” enjoyed a similar surge at DraftKings. The film is now +1200 to win Best Picture honors after standing at +2000 before the SAG Awards.

“The Power Of The Dog” remains the consensus favorite to take home Best Pictures honors. The Netflix dark drama leads all films with 12 Oscar nominations. Its price is unchanged at -200 with BetMGM and edged up slightly from -200 to -225 at DraftKings.

All Eyes On Chastain After SAG Win

In the other major SAG surprise Sunday, Chastain took home “Outstanding Performance By A Female Actor In A Lead Role” for her effort in “The Eyes of Tammy Faye.”

Chastain is now the favorite to win the 2022 Best Actress honors at the Academy Awards, scheduled for March 27 at the Dolby Theatre in Los Angeles. Chastain is +115 at BetMGM and +125 at DraftKings to win her first Oscar in what is her third nomination.

Before the SAG Awards, Chastain was +500 at BetMGM and +600 at DraftKings to win the Oscar. Nicole Kidman was the pre-SAG favorite on both betting apps to win the Best Actress Oscar. She starred as Lucille Ball in the docu-drama “Being The Ricardos.” Kidman won the Golden Globe Award for the performance. She was +100 at both sites before the SAG ceremony. She is now +150.

The bio-pic follows Tammy Faye’s story from her childhood in a strict religious home to her rise and fall alongside her husband and fellow televangelist Jim Bakker (Andrew Garfield). Tammy Faye Messner (she remarried after her divorce from Bakker) died in 2007.

Will Smith won “Outstanding Performance By A Male Actor In A Lead Role” at the SAG Awards for his role as Richard Williams in “King Richard,” which tells the story of the famed Williams tennis sisters. The win solidified Smith’s status as an Oscar betting favorite for Best Actor. His odds shrunk from -275 to -500 at BetMGM, and from -300 to -400 at DraftKings.

Up Next: The Critics’ Choice Awards

Two of the three major awards ceremonies that precede the Oscars are in the books. The Golden Globe Awards took place off the grid on Jan. 9.

The final major pre-Oscar show, the 27th Critics’ Choice Awards, happens on March 13 in Los Angeles and London. That ceremony falls on the same day as the BAFTA (the British counterpart) awards show, hence the dual locales. Smith is a finalist for both Critics' Choice and BAFTA honors. “CODA,” Kidman, and Chastain are up for Critics’ Choice Awards too.

The final Oscar voting begins on March 17 and ends five days later.