Our friends over at Bovada were among the first online book to release odds on the 87^thannual Oscars awards show. The Oscars air live on Sunday Feb. 22, 2015, and I will have lots of action on the Oscars betting board. Some of these categories have huge favorites, but they also have outstanding value. If you watched the Screen Actors Guild Awards (SAG), you know that upsets will happen on Sunday Feb. 22.

At this time I will show you the opening odds on the 87^th Oscars and tell you if you should jump on some long shot action. Awards shows like this are such a great betting option because a sharp handicapper can easily score a big profit. But again, on award shows like SAGs or even the Grammys upsets and heavy long shots will come through. You just need to pick your spots! There is a reason that the sportsbooks offer such low limits on these props; they want to lessen their exposure to guys like me!

2015 Oscars Odds - Provided by Bovada

Best Picture

• Birdman -160
• Boyhood 6-5
• American Sniper 16-1
• The Imitation Game 28-1
• Selma 33-1
• The Grand Budapest Hotel 40-1
• Theory of Everything 50-1
• Whiplash 50-1

I believe it's a two-movie race for Best Picture as this category is between "Birdman" and "Boyhood". Boyhood won Best Picture in the Golden Globes and Critics' Choice Awards, but Birdman picked up the shocking upset in the SAG awards. I thought Birdman was outstanding, and Michael Keaton was nothing but brilliant, but getting Boyhood at 6-5 seems like a steal, so my pick for Best Picture is Boyhood. If you are looking for a huge long shot, "Theory of Everything" at 50-1 seems way too high.

Best Director

• Alejandro Gonzalez Inarritu - Birdman-175
• Richard Linklater- Boyhood +110
• Wes Anderson - The Grand Budapest Hotel 25-1
• Bennett Miller - Foxcatcher 50-1
• Morten Tyldum - The Imitation Game 50-1

If I'm not mistaken Linklater has swept this category in the other major awards for Best Director. Now you are telling me that the Boyhood director is plus-money?! I know I have Boyhood winning best picture at 6-5, but here we go again, I'm betting on Boyhood plus-money in this category as well. For the Golden Globes I picked Alejandro Gonzalez Inarritu to upset Linklater and lost, so Sunday night I get some revenge. At least I hope! But I think these are really favorable odds.

Best Actor

• Eddie Redmayne - The Theory of Everything -300
• Michael Keaton - Birdman 2-1
• Bradley Cooper - American Sniper 14-1
• Benedict Cumberbatch - The Imitation Game 33-1
• Steve Carrell-Foxcatcher 33-1

Eddie Redmayne has won two out three major awards for Best Actor (Golden Globes & SAG), but Michael Keaton pulled off the upset in the Critics' Choice Awards. Yes, I know Redmayne was nothing but brilliant in The Theory of Everything, but I'm still in awe with the performance of Keaton in the Birdman. Calling upset here as Keaton wins and we cash the 2-1 underdog.

Best Actress

• Julianne Moore - Still Alice -5000
• Reese Witherspoon - Wild 12-1
• Rosamund Pike - Gone Girl 25-1
• Felicity Jones - The Theory of Everything 40-1
• Marion Cotillard - Two Days One Night 50-1

Moore should be minus a million for Best Actress as she has swept every award coming into the Oscars. If she doesn't win the award for Best Actress Sunday night, this could be the biggest upset since the Miracle on Ice. Easy pick here as Moore wins, and if for some odd reason you like long shots and believe Moore doesn't win, I believe Pike at 25-1 is way too high.

Best Supporting Actor

• JK Simmons - Whiplash -5000
• Edward Norton - Birdman 12-1
• Mark Ruffalo-Foxcatcher 16-1
• Ethan Hawke - Boyhood 33-1
• Robert Duvall - The Judge 33-1

Here is another category where you couldn't make the favorite high enough. Simmons has also swept every awards show, and he can also sell you insurance at the same time (Farmers Insurance commercials). Simmons, in my eyes, gave probably one of the most memorable performances in this movie and deserves all the awards and praise; simply outstanding! I wish I could say Norton or Hawke are great value underdogs, but again Simmons easily wins this award.

Best Supporting Actress

• Patricia Arquette- Boyhood -5000
• Emma Stone - Birdman 14-1
• Keira Knightley - The Imitation Game 25-1
• Laura Dern- Wild 25-1
• Meryl Streep - Into the Woods 25-1

Three straight categories with three straight heavy favorites -5000, and for all good reasons! Arquette swept all the awards shows as well, and she will also bring home another gold statue Sunday night. Arquette easily wins here, and for all you heavy moneyline parlay customers, betting Simmons, Moore, and Arquette together at a higher payout is the only way to bet them to win Oscars. I can't believe I said the word 'parlay'!

Best Animated Feature Film

• How To Train Your Dragon 2 -250
• Big Hero 6 +200
• Song of the Sea 12-1
• The Tale of the Princess Kaguya 12-1
• The Boxtrolls 18-1

Can somebody please tell me why the Lego Movie was not nominated for an Oscar? I guess the Oscars committee only played with Lincoln Logs when they were kids! How To Train Your Dragon will win this award but doesn't deserve the award because the best Animated movie wasn't even listed.

Best Original Song

• Glory - Selma -400
• Everything is Awesome - The Lego Movie +350
• Lost Stars - Begin Again 7-1
• I'm Not Gonna Miss You - Glen Campbell: I'll Be Me 10-1
• Grateful - Beyond the Lights 33-1

"Glory" is going to be hard to beat in this category, and getting this one at -400 seems like a steal. I really thought this song would be -600 or higher, and I can guarantee Sunday afternoon Glory will be around -600.

Best Costume Design

• The Grand Budapest Hotel -1000
• Into the Woods +450
• Maleficent 12-1
• Inherent Vice 20-1
• Mr. Turner 20-1

The "Grand Budapest Hotel" was hilarious, and the wardrobe for this movie was eye-catching, but at -1000 I'm totally shocked. Into the Woods and even Maleficent had unbelievable Costume Design, and getting those two movies with these values in my eyes is a steal. Taking an upset in this category, and I believe "Into the Woods" steals the Gold Man.

Best Film Editing

• Boyhood -175
• Whiplash +175
• American Sniper +750
• The Imitation Game 10 -1
• The Grand Budapest Hotel 14-1

Boyhood took around 12 years to make, so I can imagine how the editing took place. For that reason and that reason alone is why Boyhood wins this category, and again I'm scratching my head on why this is only -175. If you like like underdogs, I believe "American Sniper" at +750 is a good roll of the dice, and I will have action on this underdog as well.

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