While success at either of these ceremonies doesn’t necessarily lead to Academy Award glory, the unveiling of the Oscar nominations on January 24 by Riz Ahmed and Alison Williams means there is now a clearer picture as we come towards the finishing line for another eventful awards season.

Traditionally speaking, there are said to be four gongs that generate the most interest at the Academy Awards; Best Actor, Best Actress, Best Picture and Best Director.

Given how hotly-anticipated each of these Oscar categories are, we will examine how the most popular bookmakers are viewing them at the present time.

Fraser Remains The Top Pick For Best Actor

When we looked at the Best Actor race at the end of 2022, Brendan Fraser was the favourite to come away with the Oscar for his portrayal of Charlie in Darren Aronofsky’s The Whale.

Austin Butler and Colin Farrell may have secured the male acting honours at the Golden Globes, but Fraser remains out in front when it comes to the Academy Awards.

Specials betting sites are offering odds of 8/13 on Fraser being the choice for Best Actor.

By contrast, Colin Farrell is available at 11/4 and Butler is 7/2 to be honoured for his performance as Elvis Presley.

An omission at the Golden Globes, Paul Mescal is Oscar nominated for Aftersun and there are odds of 28/1 on him being a surprise winner.

The shortlisting of Bill Nighy for Living has been met with great joy by many, but he appears to be a long shot with 33/1 available on the English actor triumphing on the night.

Blanchett In Line For Another Oscar Win

A previous winner in the category for Blue Jasmine (having also been honoured for her supporting role in Martin Scorsese’s The Aviator), Cate Blanchett’s Golden Globe success for her showing in Tar has her as the frontrunner for Best Actress at the Oscars.

Betfair have the Australian at 4/6 to come out on top and it is hard to make a case against her.

Michelle Yeoh was also a Best Actress winner at the Globes (in the comedy/musical category, whereas Blanchett was up for consideration in the drama section) and she is firmly the second favourite in the running at 6/5.

Despite some controversy surrounding the manner of her nomination, there are odds of 14/1 on Andrea Riseborough picking up a maiden Oscar for her part in To Leslie.

Michelle Williams has been nominated for four Oscars in the past and is in the mix once again for Steven Spielberg’s The Fabelmans. Yet with odds of 33/1 available on her, it looks like she may lose out again.

Just behind her in the reckoning is Ana de Armas for her performance as Marilyn Monroe in Blonde.

She is at 33/1, but there are even longer odds to be found on the Cuban pulling off a shock victory.

Everything Everywhere All At Once Leading Best Picture Race

Because 10 films have been nominated, the Best Picture market at the Oscars is extremely crowded.

Nevertheless, there are two significant favourites as we edge towards the ceremony itself.

The American absurdist comedy-drama Everything Everywhere All at Once didn’t come away with the Best Motion Picture – Musical or Comedy gong at the Golden Globes, but it has the edge in the eyes of UK bookmakers for the Best Picture Oscar.

Betting apps that have it at 2/5 to emerge out of a crowded pile as the best film of the past 12 months.

The Banshees of Inisherin got the better of it at the Golden Globes and while odds of 16/5 are worth noting, it only makes them second favourites for an Oscar triumph.

The Fabelmans was the big winner in the Best Motion Picture – Drama category at the Globes, though the best odds available on it adding an Academy Award to its list of honours is 12/1.

Of the other contenders, the Tom Cruise-starring box-office smash Top Gun – Maverick seems the most likely to upset the apple cart with odds of 12/1 available in Unibet.

Daniels The Favourites In A Talented Directing Field

When it comes to Best Director, the dynamic duo of Daniel Kwan and Daniel Scheinert (known collectively as “Daniels”) are the clear frontrunners at 4/6 at Bet365 for their work on Everything Everywhere All at Once.

A two-time Best Director winner in the past (for Schindler’s List and Saving Private Ryan), Steven Spielberg’s semi-autobiographical direction of The Fabelmans makes him a strong challenger in this category.

He is valued at 11/10 and it wouldn’t be a huge surprise if he was to be honoured.

You’ll find odds range from 18/1 on Todd Field to win for Tar and even though the film is in line to come away with some top prizes, Martin McDonagh is as far out as 20/1 for directing The Banshees of Inisherin.

Also nominated for a Best Director Oscar is Swedish filmmaker Ruben Östlund for Triangle of Sadness, but the odds of 50/1 available on him are indicative of his underdog status.

Quan And Bassett In Contention For Supporting Gongs

Long before helming The Fabelmans, Steven Spielberg wowed audiences with his Indiana Jones franchise.

Ke Huy Quan was in his early teens when he played Short Round in Indiana Jones and the Temple of Doom, and had been out of the limelight before re-emerging in 2021’s Finding ʻOhana.

His part as Waymond Wang in Everything Everywhere All at Once has propelled him back into the mainstream and he is the bookies’ favourite to beat off some stiff competition and claim the Best Supporting Actor Oscar.

At 1/12 with Ladbrokes, Quan would be best advised to have a speech prepared at the Dolby Theatre.

Likewise, Angela Bassett is leading the Best Supporting Actress betting for Black Panther: Wakanda Forever.

Though it is the third time she has played Queen Ramona in the Marvel Cinematic Universe, the way she filled the gap left by the late Chadwick Boseman drew considerable praise from both critics and cinemagoers.

Almost three decades years on from her nomination for What’s Love Got to Do With It, Bassett is 4/11 with Oscars betting sites to come away with an Oscar next month.