Even before the nominations take place, British bookies are laying odds on the Oscars - and expect 1000's of bets in the run up to the awards

Whilst Americans are legally not allowed to place bets online, that doesn't stop the rest of the world - and Americans abroad - taking an interest in the event - according to the New York Daily NewsThe Aviator is currently favourite to take the 'Best Picture' at even money, with Clint Eastwood's female boxing pic "Million Dollar Baby" is 6/4, whilst Jamie Foxx is odds on to win Best Actor

And in line with the distinctly British quirk of 'betting on anything', Irish bookie, Paddy Power is also taking bets on which designer will dress the Best Actress Read MoreHistorically, betting on the Oscars was always an easy way to make money as traders has little expertise or knowledge of the awards process. But recently, the bookies have seen an increase in interest in events like this and have gained more experience, watching earlier awards shows such as the Golden Globes for clues

So my predictions:
Best Picture: The aviator
Best Actor: Jamie Foxx (outsider pick if nominated, Jonny Depp for 'Finding Neverland')
Best Actress: Hilary Swank
Best Director: Clint Eastwood (Although Scorsese has never won the Oscar - it could be his year)