Alejandro Gonzalez Inarritu's film scoops the most Oscar nominations but there's stiff competition from the likes of Mad Max, Spotlight, Room and The Hateful Eight, says our man for all things silver screen, Max Liu...
Bettors don’t believe The Revenant [6/4] will win Best Picture. Instead, they make McCarthy’s Spotlight [4/5] the favourite.
The Revenant looks set to dominate the 88th Academy Awards after the survival epic picked up 12 nominations, including Best Film, Best Director and Best Actor. Mad Max - Fury Road is also in contention for multiple awards, with 10 nominations, while The Hateful Eight and The Martian follow with eight and seven respectively.
Leonardo DiCaprio is [1/9] to win best actor for his performance in The Revenant, having taken the prize at the Golden Globes last Sunday.
He faces competition from Eddie Redmayne [10/1], who won this Oscar last year, as well as Michael Fassbender [6/1], Matt Damon [20/1] and Bryan Cranston [14/1]. But Betfair customers make DiCaprio 90% likely to win and it's hard to believe that, having missed out in the past, this won't be his year.
Only two directors - John Ford (1940 and '41) and Joseph L. Mankiewicz (1949 and '50) - have won consecutive Oscars, so will the Academy give Alejandro Gonzalez Inarritu [4/6] Best Director for the second year running?
The Revenant opens in the UK tomorrow (Friday) but I'm told it's not without flaws. Inarritu is favourite but, in a strong field, alongside Tom McCarthy [3/1] for Spotlight, Adam McKay [5/1] for The Big Short, George Miller [11/2] for Mad Max and Lenny Abrahamson [20/1] for Room, there's potential for an upset. Of all the nominees, Abrahamson has the market momentum, having traded at 100/1 the day before the nominations were announced.
Bettors don't believe The Revenant [6/4] will repeat its success at the Golden Globes and win Best Picture. Instead, they make McCarthy's Spotlight [4/5] the favourite. The Big Short hasn't been released here yet but McKay's drama about the banking crisis is next in the betting at [6/1]. It's followed by The Martian [8/1], Mad Max [20/1], Room [28/1], Bridge of Spies [28/1] and Brooklyn [66/1].
For Leading Actress, my money is split between two who both starred in 1950s-set films: Cate Blanchett [6/1], who was captivating in Carol, and Saoirse Ronan [9/2], who lit up Brooklyn. At [1/4], Globe winner Brie Larson is too short for her role in Room. Charlotte Rampling [20/1] was convincing as the retired teacher in 45 Years while Jennifer Lawrence [13/2] is nominated again for Joy.
For sentimentalists and Rocky fans there's great news as Sylvester Stallone is [4/5] to win Best Supporting Actor for his comeback in Creed. Of everybody involved with Bridge of Spies, Mark Rylance [6/4] probably has the best chance of carrying off a gold statuette this year, while Tom Hardy [8/1] gets the nod for playing alongside DiCaprio in The Revenant.
Rooney Mara [1/2] is the worthy favourite to win Best Supporting Actress for her performance in Carol, although Alicia Vikander [3/1], who's in The Danish Girl, is well poised. Jennifer Jason Leigh [10/1] would be a popular winner for her comeback in The Hateful Eight. Brace yourself for tears if Kate Winslet [3/1] triumphs, as she did at the Globes.
There'll be more updates and analysis on this site before the Oscars are announced at the ceremony on February 28. In the meantime, you can find a full list of nominees here.
For all the latest on Betfair's Oscars markets, check out Betfair Predicts, which uses Exchange data to predict outcomes...