One of the unique areas in which you can now gamble is the literary prizes. These include the Nobel Prize for Literature, The Booker Prize, and the National Book awards. Sports betting sites online offer well-researched odds for each prize. Most sites have an in-house expert who sets the odds for every contestant.
Just like world cup matches, the literary prizes have the appeal of being relevant worldwide. The winners could come from any country. This keeps people all over the world interested in the winners of the prizes. In the last seven or eight years, the pool for betting on literary prizes has increased substantially.
About the Nobel Prizes
The Nobel Prize is one of the most prestigious prizes in the world. Beginning in 1901, the prize ceremony takes place every year, continuing until today. The tradition started when Swedish inventor Alfred Nobel died in 1895, specifying in his will that five prizes would be given out in five separate categories, to individuals (or groups) who had contributed significantly in those categories. The prizes, his will stated, would go “to those who, during the preceding year, shall have conferred the greatest benefit on mankind.”
Categories of the Nobel Prize
The five categories of the Nobel Prize are Peace, Literature, Physics, Chemistry, and Physiology/Medicine. In 1968, a sixth category in Economics was added. Each prize is conferred by a different organization, as specified in Nobel’s will. The Royal Swedish Academy of Sciences confers the physics, chemistry, and economics prizes. The Karolinska Institute confers the prize for medicine, The Swedish Academy confers the prize for literature, and the Norwegian Nobel Committee confers the prize for peace.
Other literary prizes that have been bet on include the Booker Prize and the Pulitzer Prize.
Betting on the Nobel Prize in Literature
What’s impressive about betting on the Nobel Prize for Literature is that the committee of jurors doesn’t release the list of contenders until fifty years after the prize. The jurors are known as the Swedish Academy, which is composed of various high-profile writers and scholars. The Academy is well-known for being tight-lipped on the subject of the contenders, releasing no hints or clues as to who is on the short-list.
Coming up with the odds
Sites that put up odds for the prize have to research extensively to try and figure out which name in literature best represents the current zeitgeist. They have to attempt to get inside the heads of the committee members to even come up with a list of contenders. In-house experts spend hours going through literary blogs, book review sites, and social media platforms for research.
Influencing factors
Here are some of the factors that guide experts in coming up with a list of contenders:
- Age
- Gender
- Nationality
- Current events
- Political views of the writer
- Consensus on social media
Giving these factors primacy, researchers scour the online world of readers and critics. There are countless blogs that discuss their favorites for the major literary prizes. Researchers do take these names into account in setting odds. However, like any other kind of gambling, the winner might be an outsider rather than a favorite.
How to bet on the literary prizes
Most online betting forums place literary prizes in the category of ‘novelty bets’ or in the section under ‘TV and specials’. As of now, the odds for the literary prizes aren’t out yet, because most of them are awarded around the end of the year. Start searching around on your favorite betting sites for literary prize odds around August or September.
Choose Your Bet
If you’re interested in literature and keep up with literary news around the world, it makes sense to bet on the literary prizes. But don’t worry: even if you’re someone who isn’t up to date with the happenings of the literary world, there’s plenty of time to get caught up. Start now, by following literary blogs, news sites, reviewers, authors, and social media influencers. This will give you an idea of the playing field. Once you’re familiar with the names of authors and books that carry buzz, you’re good to start looking at odds on gambling websites.
Making Sense of Literary Betting Odds
If you’re a newcomer to gambling, betting odds can be tricky to understand. If you’re already comfortable with online betting, you’re all set to bet on the literary prizes. One of the most reliable betting operators for gambling on the literary prizes is British site Ladbrokes Sports.
Frequently Asked Questions
We hope you learnt something new from this article on betting on the literary prizes. There are still some months to go before the betting begins this year, so you can read up on gambling terms and phrases in the meantime. If you’re interested in placing a bet on the literary prizes, check out these frequently asked questions by others with the same interest.
Who is the favorite to win the Nobel Prize in Literature?
The odds for the Nobel Prize in Literature 2022 will only come in October 2022. In 2021, though, Annie Ernaux (+800), Ngũgĩ wa Thiong’o (+800), Haruki Murakami (+1000), and Margaret Atwood (+1000) were the top favorites on Ladbrokes. For more betting options you can check out our best sports betting sites page.
What operators take bets on literature prizes?
There are a few reliable operators who place bets on the literary prizes. Ladbrokes, Betway, 22Bet, BetOnline, and Paddy Power are some websites which have moneylines on literature prizes, among other novelty and entertainment bets.
What are the most lucrative literary prizes in the world?
The Nobel Prize in Literature is one of the most lucrative literary prizes in the world, with the winner pocketing around $1,100,000 ($1.1 Million) prize money. There is also the Premio Planeta de Novela, a Spanish literary prize, which awards $1.16 Million to its winner. In the UAE, the Million’s Poet prize winner receives $1.36 Million. The Million’s Poet is a reality TV show where Arabic-language poets compete for the top five places. If you want to find online games with large payouts, check out this page.
