There's the small matter of the rest of 2021 to get through first but with the New Year will come intense speculation about who and what will be in contention for the Oscars.
The nominations will be out on 8 February with the winners announced on 27 March. It will the be 94th edition of the Academy Awards and films released between 1 March and 31 December 2021 in the US are eligible.
Branagh's Belfast could dominate big categories
There's no obvious frontrunner yet in the Best Picture category although the odds give a fairly strong indication of at least half of the 10 films that will be nominated.
Belfast is the 3/1 favourite to win at the moment and the man behind it Kenneth Branagh (picture below) is 11/2 in the Best Director market. Last year, Nomadland pulled off the Picture/Director double.
The market likes the looks of Power of the Dog too, Jane Campion's western which has been receiving critical acclaim and is 5/1. Campion is 15/8 to win Best Director.
Nightmare Alley 13/2 also looks set to be a major player and in director Guillermo del Toro, who has already won a Best Picture and Best Director, it has serious Oscar pedigree.
Paul Thomas Anderson's films (Boogie Nights, There Will Be Blood etc) have produced Oscar winners in the past and Licorice Pizza, which hits UK cinemas in the first week of January, is 9/1 to win the big one this time. Anderson, who is very much a Hollywood insider, is 11/2 for Best Director.
The film that's currently making headlines is Ridley Scott's House of Gucci. At 10/1, however, bettors are sceptical that the buzz will carry it all the way to the Best Picture award. It comes out in the UK tomorrow, and I can't wait, but the critical consensus appears to be that it's an enjoyably bad film - one to see but not take too seriously - and that could cost it here.
Kristen Stewart and Lady Gaga could compete for Best Actress
The Best Actress category is where the House of Gucci could have a winner. Some critics have tipped Lady Gaga, who plays the film's murderous female lead, to win and she's 7/1 in the early betting. Her co-star Adam Driver is an interesting outsider for Best Actor at 25/1.
Ahead of Gaga in the betting is Kristen Stewart who is odds-on to win for her performance as Princess Diana in Spencer.
Stewart is 8/15 to win Best Actress in a market where Jessica Chastain comes next at 11/2.
Will Smith odds-on for Best Actor in tennis biopic
Will Smith is the shortest price of any runner in the main categories. Some critics in America are hailing his performance in King Richard, in which he plays Richard Williams, aka Serena and Venus' dad, as a career best.
Smith has twice been nominated and lost out. He is 4/9 to go all the way this time for his performance as Williams.
His nearest rivals, according to the betting, are Benedict Cumberbatch and Denzel Washington. The pair lag some way behind Smith, however, with both available to back at 10/2.
There's a long way to go until the Oscars, however, and we don't even know yet which films will have the momentum going into awards seasons. There will be more Oscars betting updates on Betting.Betfair in the run up.