The 2023 Academy Award winners will be announced on Sunday, March 12. Cinephiles can legally bet on the outcome of up to 23 Oscar categories this year on betting sites in five states.

Presenting your Best Picture nominees for the 95th Academy Awards. #Oscars95 pic.twitter.com/tYQlWty91Z

— The Academy (@TheAcademy) January 24, 2023

Legal betting on the Oscars is a relatively new phenomenon in U.S. betting markets. It was first allowed in 2019 in New Jersey. Indiana opened Oscar betting markets in 2020. Michigan was added in 2021. Louisiana sports betting and Colorado then were added to the list last year. Retail betting sites in Massachusetts will also be taking wagers on the Oscars when they go live on January 31. But Massachusetts betting apps do not go live until March.

The 2023 Oscars ceremony at the Dolby Theatre at Ovation Hollywood will be hosted by Jimmy Kimmel. The 95th Academy Awards air live at 8 p.m. ET on ABC. Last year's show saw a ratings boost in part due to the infamous "Slap Heard Round The World" courtesy of Will Smith's hand and Chris Rock's face. But ratings have sagged in years previous.

This is Kimmel's third time hosting the Oscars. The last time Kimmel did so was in 2016 when Warren Beatty and Faye Dunaway mistakenly announced "La La Land" as the winner. It turned out to be "Moonlight."

The awards for all 23 categories will be aired live this year. The decision to air some awards on tape last year was widely panned in and out of Hollywood.

The Academy of Motion Picture Arts and Sciences again requires that any film have a qualifying theatrical release date between Jan. 1, 2022 and Dec 31, 2022. In 2021, films that were streamed without being shown in a theatre were eligible.

Where Can You Bet On The Oscars In 2023?

Oscar betting is limited to moneyline action. At FanDuel last year, the amount bet on each category was limited to a maximum wager of $1,000. Other betting apps traditionally limit Oscar action but have not disclosed any limits this year.

2023 Oscars: Betting In My State

Here is the state-by-state breakdown of where people over 21 can legally bet on the Oscars in the United States, as well as sportsbooks of note operating in each state, and the first year betting was allowed on the Oscars in that state.

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Where Is Oscars Betting Prohibited In 2023?

Betting on the Oscars is still more the exception than the rule in states where sports betting is legal. Some states have simply chosen not to establish betting markets on the Academy Awards. Others have outright banned them.

Pennsylvania sports betting law limits sportsbook wagers to professional or collegiate athletic events. That means no betting on politics or award shows like the Oscars. That applies in Illinois sports betting law too, where wagering is also limited to sporting competitions.

In Virginia, for example, there is no specific prohibition against betting on events like the Academy Awards, but they are not legal, either. The Virginia Lottery would have to approve Oscars betting there. The same holds true for Iowa, where wagering on political events and elections is specifically banned. The Hawkeye State has yet to enact regulations to facilitate Oscars betting.

Meanwhile, Nevada has yet to approve live action on anything that is not tied to live sports without a predetermined outcome. That’s unlikely to change.

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