Bookmakers William Hill are gearing up for a Million dollar betting extravaganza in the coming week as punters are expected to go Oscar betting crazy. "Year on year Oscar betting has been on the increase and 2008 is likely to be a record year as punters lump on some very fancied runners," said Hill's spokesman Rupert Adams.

Despite Atonement winning the Best Film BAFTA William Hill are still prepared to offer 5/1 that the film does the double and wins the Best Film Oscar. Daniel Day Lewis looks like a certainty to win the Best Actor award and has been cut from 1/8 to 1/12, with bets of up to £8,000 placed on the Irishman. The most competitive market is the best supporting actress with Cate Blanchett the current favourite at 5/4. The Coen brothers are also likely to be popular at 1/4.

Oscard odds
Best Film: 1/3 No Country For Old Men, 4/1 There Will Be Blood, 5/1 Atonement, 14/1 Juno, 33/1 Michael Clayton

Best Actor: 1/12 Daniel Day-Lewis, 7/1 Johnny Depp, 9/1 George Clooney, 33/1 Viggo Mortensen, 33/1 Tommy Lee Jones

Best Actress: 4/11 Julie Christie, 9/4 Mation Cotillard, 7/1 Ellen Page, 33/1 Laura Linney, 33/1 Cate Blanchett

Best Supporting Actor: 1/12 Javier Bardem, 7/1 Casey Affleck, 16/1 Hal Holbrook, 20/1 Tom Wilkinson, 25/1 Phillip Seymour Hoffman

Best Supporting Actress: 5/4 Cate Blanchett, 9/4 Amy Ryan, 11/4 Ruby Dee, 8/1 Tilda Swinton, 12/1 Saoirse Ronan

Best Director: 1/4 Coen Brothers, 5/1 Paul Anderson, 6/1 Julian Schnabel, 25/1 Tony Gilroy, 25/1 Jason Reitman

You can get a free bet on the Oscars at all these bookmakers.