As sports betting legalization continues to expand, there are plenty of regulatory concerns to be addressed — but in New Jersey, which became the first state to permit legalized Academy Awards bett…
As sports betting legalization continues to expand, there are plenty of regulatory concerns to be addressed — but in New Jersey, which became the first state to permit legalized Academy Awards betting in 2019, the public is susceptible to something much more intangible — rumor.
The line movement was driven through social media, and as some have speculated, perhaps originated from a sportsbook, whether legal or offshore, to drive action. False gossip isn’t unique to Oscars betting. We saw it move odds this past week with regard to the Gatorade color in the Super Bowl. In more established single-game betting markets like the NBA or the NFL, there’s too much big money ready to attack any over or under-adjustment to a line based upon all available information. But in softer markets such as the Academy Awards or Gatorade color props, it only takes a fake leak to create an influx of low-limit public action to crater odds.
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