We are at the mid-February, March period and in the entertainment world, that means it's time for the Academy of Motion Picture Arts and Sciences to present its awards, aka the Oscars.

The event will include the red carpet, the fashion report cards, the glitz, the glamor and alongside all that, Oscar proposition and futures betting.

Unlike previous years, where the Best Picture, Actor and Actress nominees are garnering the attention, all eyes are on the Best Supporting Actor.

If many consider Jack Nicholson's portrayal of, Batman arch-villain, The Joker amazing, Heath Ledger's "Dark Knight" interpretation is both amazing and chilling.

Unfortunately, Ledger passed away last year of a drug overdose and didn't get to enjoy the spotlight for his "Dark Knight" performance.

Bodoglife.com has the late-Ledger listed at -3500 to take this year's Best Supporting Actor.

While there has been a lot of publicity around "The Joker," there has also been a lot of talk about low-budget flick Slumdog Millionaire.

The love story that centers around a male from an impoverished part of Mumbai, his love for a girl and how he is successful on the Indian version of "Who wants to be a Millionaire?"

Slumdog has been nominated for 10 Oscars, including Best Picture and Best Director. Pinnaclesports.com has it listed at -716 to take the Best Pic award and its director Danny Boyle to take top honors in his category.

Actor Mickey Rourke is on the comeback trail after his lead role in the movie "The Wrestler" and even took a Golden Globe for his portrayal of a washed up grappler—he is listed at +100 at sportsbetting.com to take an Oscar too.

The awards take place this Sunday, February 22, 2009.