Parasite Becomes First South Korean Movie Nominated for an Oscar; Given +300 Odds to Win Best Picture

Still of the cast from Bong Joon-ho's film Parasite
Bong Joon-ho's Parasite is the first South Korean film to be nominated for Best Picture at the Oscars. Will it win? Photo by Barunson E&A (creative commons).
  • The Academy Award nominees were announced on January 13, 2020
  • Parasite became the first South Korean film nominated for Best Picture
  • Parasite’s odds to win are right in the mix with blockbuster films such as Once Upon a Time in Hollywood and 1917

With the nominations for the 2020 Academy Awards now announced, the race is on for the most-coveted prize of all. That would be, of course, the Oscar for Best Picture. Buckle up, movie fans, it’s going to be a tight race.

This year, nine films are vying for the award, which will be given out during the telecast on February 9, 2020. This year’s nominations are a complete mix, ranging from classical fare to modern dramas to comic book adaptations. And, for once, we have a South Korean film tossed in with the big dogs.

Bong Joon-ho’s Parasite is the first South Korean film to be nominated for Best Picture at the Oscars, and the latest 2020 Oscar odds give it a fighting chance of winning.

Odds for Best Picture at 2020 Academy Awards

Nominee Odds at BetOnline
Once Upon a Time in Hollywood +125
1917 +250
Parasite +300
Joker +800
The Irishman +1000
Marriage Story +2500
Jojo Rabbit +3300
Little Women +4000
Ford v Ferrari +10000

Odds taken Jan. 13th

Slow Rise to Prominence

This year’s have been incredibly interesting watch. Now with the official nominations in place, we are able to see that, overall, the odds were very on point in narrowing down who the nominees would be. Right before the nomination announcement, Parasite was right in the mix as one of the highest contenders. The odds were right on the money.

Parasite‘s nomination is nothing short of impressive. Earlier on in the season before nominations, the film was certainly in the mix, but not with the odds it’s gained now. This slow rise shows how highly regarded Parasite is as a film. Even in the mix of such high profile films, it’s still near the top of the list of odds.

On the day of the nomination announcement, Parasite is listed as the third most likely to win. Months ago, its odds weren’t as likely. But since November, Parasite has surpassed JokerThe Irishman, and Marriage Story in the odds. While 1917 has  improved its odds as well, you can’t deny the killer moves Parasite has made in the past couple of months.

But Can it Win?

With the odds the way they are now, it seems Parasite won’t be able to knock out heavy contenders 1917 or Once Upon a Time in Hollywood to actually secure the victory for Best Picture.

The Academy’s nomination of Parasite for Best Picture is definitely history-making, but this year’s competition is too strong for the film to actually win. Tarantino is considered long overdue for Oscar gold, and his Once Upon a Time in Hollywood is exactly the type of film Hollywood loves to see win: it’s about Hollywood.

That said, anything can happen in the world of the Oscars. But even so, if this is not to be Tarantino’s year, 1917 is waiting in the wings for the award too, and it’s far more likely to win than Parasite odds-wise.

It would be far more interesting to see Bong Joon-ho at the podium taking home the award for Parasite. Having Tarantino win is far more expected and a bit on the nose given his film’s Hollywood subject matter. Throwing in a win for a highly-regarded international film would give The Oscars some much-needed diversity. It’s nice to think they’re ready for that, but they probably aren’t.

Pick: Once Upon a Time in Hollywood (+125)

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