Published on: March 6, 2026, 08:32h.

Updated on: March 6, 2026, 08:33h.

• Legendary Hollywood actor leads the race for Best Supporting Actor for his role as Col. Lockjaw
• One Battle After Another is the top contender for Best Picture
• Michael B. Jordan and Timothee Chalamet compete for Best Actor, while Jessie Buckley is a strong favorite for Best Actress

One of cinema’s most esteemed actors is favored to win the Best Supporting Actor accolade at the Oscars on March 15, according to BetMGM.

Oscars Betting Updates

BetMGM is proudly presenting an extensive selection of Oscars betting options for players in Ontario and several U.S. states.

Viewers of Paul Thomas Anderson’s One Battle After Another were captivated by Sean Penn’s performance as Col. Steven J. Lockjaw, alongside Oscar winners Leonardo DiCaprio and Benicio Del Toro.

Penn’s ability to portray a menacing character while eliciting laughter is unparalleled. His performance captivated audiences, showcasing why only a few actors could have portrayed this role with such impact.

Penn Dominates Best Supporting Actor Field

At BetMGM, Penn stands at -350 to claim the Best Supporting Actor award, with Stellan Skarsgard, nominated for Sentimental Value, closely following at +400. Skarsgard’s longstanding reputation since Good Will Hunting in 1997 further strengthens his candidacy, with 41.4% of tickets and 30.5% of the total handle backing him. This bet may reward Skarsgard for his accomplished career.

Delroy Lindo, competing for Sinners, also has a promising chance this Sunday, positioned at +900. Meanwhile, Penn’s co-star Benicio Del Toro sits at +1200, alongside Jacob Elordi’s inaugural Oscar nomination in Frankenstein.

Betting on the Oscars is authorized in Arizona, Kansas, Louisiana, Massachusetts, and Montana, as well as Ontario. Entertainment and culture betting is flourishing on prediction markets, allowing participants to buy shares predicting various outcomes.

Insights from Prediction Markets

This morning, the market quotes a “yes” for Penn as Best Supporting Actor at .74 on Polymarket, with a total volume of $346,407. Skarsgard has a lower interest at .17, with $2.9 million in volume.

Additionally, at BetMGM, One Battle After Another is listed at -600, gathering 14% of all tickets and 48.9% of the handle. Anderson is a massive favorite for Best Director at -5000. The competition for Best Actor features Timothee Chalamet for Marty Supreme at -135, challenging Michael B. Jordan for Sinners at +150, reflecting 18.2% of tickets and 39.2% of handle for Chalamet compared to Jordan’s 22.7% and 18.9%.

Buckley the Strong Favorite for Best Actress

Jessie Buckley is the heavy favorite (-5000) for her role in Hamnet for Best Actress, commanding an impressive 97.7% of the handle. Amy Madigan holds the top odds for Best Supporting Actress at +115 for her performance in Weapons, attracting 30.4% of tickets and 53.8% handle at BetMGM.

Markets show a “yes” for Anderson as Best Director at .93 on Polymarket ($565,769 volume), .96 for Buckley ($229,081 volume), and a .53 for Chalamet ($801,006 volume).

“These markets operate similarly to sports betting on MVP awards,” remarked John Ewing, a BetMGM representative. “Certain films, like noted players, are anticipated to excel and be frontrunners for accolades, with odds shifting based on results from award shows happening prior to the Oscars.”