Patrons bet just over $747,000 on the 91st Academy Awards last month–– a slither of the $320 million they wagered in New Jersey sports betting pools overall, according to a recent report.
Tuesday’s report from the Division of Gaming Enforcement, which oversees the state’s sports betting and gambling markets, found the vast majority of wagers were placed via online or mobile services, totaling nearly $259 million, versus the $61 million patrons wagered at brick and mortar casinos or racetracks.
Over a dozen venues excitedly unveiled the opportunity last month for patrons to bet on the Oscars, with some establishments accepting bets on all 24 categories ranging from Best Picture, Best Supporting Actor and Actress, all the way to Best Costume Design.
Bettors saw a pay-out of $565,179 while the industry win percentage was 24.4 percent, according to the DGE.
But gaming regulators last month said that this will be a one-time-only product offering for patrons.
“The [DGE] has received multiple requests to allow wagering on the 2019 Academy Awards,” reads a letter to gaming operators from the DGE. “After reviewing the relevant information on integrity issues, the division has determined that pre-event betting on the Oscars can be offered for this year only.”