PinnacleSports.com Releases Updated Oscar Odds

WILLEMSTAD, Curacao – (PRESS RELEASE) -- All eyes will be on Hollywood's brightest stars Sunday when the winners of the 78th Annual Academy Awards(R) are revealed. PinnacleSports.com was the first bookmaker in the world to open betting on this year's Oscars(R), releasing odds only minutes after the nominees were announced on January 31. With the official awards ceremony taking place this weekend, PinnacleSports.com has released updated odds in the six major Oscar categories.

The largest sports betting site on the Internet, PinnacleSports.com currently lists "Brokeback Mountain" as a 1/4 favorite to capture Best Motion Picture honors after originally opening at 1/13 odds to win the award. Philip Seymour Hoffman remains a huge favorite (1/7) to win the Best Actor award for his role as Truman Capote, while Reese Witherspoon is the odds-on favorite to take the Best Actress Oscar at 1/4 odds. The most hotly contested Oscar race appears to be for Best Supporting Actor, where Paul Giamatti (10/11) is a slight favorite over George Clooney (2/1). PinnacleSports.com continues to favor Rachel Weisz to capture Best Supporting Actress honors at 1/2 odds. The lock at this year's Academy Awards appears to be "Brokeback Mountain" director Ang Lee, who is an overwhelming 1/10 pick to take the Best Director award.