Academy Awards Betting - No Oscar for Avatar but Win for Bookmaker

James Cameron's science fiction smash might have been sensationally snubbed by the Academy in Los Angeles but it was a big winner for an Irish betting company.

The bookmaker took twice the number of bets and double the amount of money on Avatar winning 'Best Picture' than it did on Kathryn Bigelow's war-time drama, leaving them in the green to the tune of almost €10,000.

Sharon McHugh, spokesperson for Paddy Power said: "This was a very successful Oscars for the bookies. After a phenomenal performance at the box office our punters were convinced Avatar had it in the bag for ‘Best Picture’. The Academy certainly works in mysterious ways."

Punters were also convinced that Avatar would clock up more awards overall on the night. Over €3000 was wagered on Avatar winning the most awards compared to €650 in bets put down on The Hurt Locker.

But the bookies did not get it all their own way, in other categories, all the major favourites picked up their piece of gold. Jeff Bridges won Best Actor at odds of 1/20, Sandra Bullock won Best Actress at 1/3 while Kathryn Bigelow as predicted at odds of 1/10 with Paddy Power, picked up the Oscar for Best Director, becoming the first woman to win that award in the Academy's history.