Oscar Odds: One More Time Before the Show

[Ed. note: Here are Jay Kornegay's final predictions before the ceremony on Sunday night. Don't use them for betting or wagering, but also, don't forget to join Moviefone's giant Oscar pool!]

Performance by an Actor in a Leading Role
Forest Whitaker, 'The Last King of Scotland' (Open: 6-5) (Current: 2-5)
Leonardo DiCaprio, 'Blood Diamond' (Open: 3-1) (Current: 6-1)
Peter O'Toole, 'Venus' (Open: 6-1) (Current: 5-1)
Ryan Gosling, 'Half Nelson' (Open: 8-1) (Current: 12-1)
Will Smith, 'The Pursuit of Happyness (Open: 10-1) (Current: 10-1)
** Run Forest Run! It looks like Whitaker can start walking now with the lead he has built. Peter has started to collect some of his expected sentimental votes but not enough to be a legitimate threat.

Performance by an Actress in a Leading Role
Helen Mirren, 'The Queen' (Open: Even) (Current: 1-15)
Meryl Streep, 'The Devil Wears Prada' (Open: 9-5) (Current: 12-1)
Penelope Cruz, 'Volver' (Open: 6-1) (Current: 12-1)
Judi Dench, 'Notes on a Scandal' (Open: 6-1) (Current: 20-1)
Kate Winslet, 'Little Children' (Open: 4-1) (Current: 15-1)
** One time, a heavyweight champion was a 1-47 favorite over the challenger and lost. That was the biggest upset I can ever remember. We are approaching that level with Helen. With all due respect to the other nominees, I just can't see Helen on the canvas.

Performance by an Actor in a Supporting Role
Eddie Murphy, 'Dreamgirls' (Open: 8-5) (Current: 4-5)
Alan Arkin, 'Little Miss Sunshine' (Open: 5-2) (Current: 5-2)
Djimon Hounsou, 'Blood Diamond' (Open: 3-1) (Current: 10-1)
Jackie Earle Haley, 'Little Children' (Open: 4-1) (Current: 12-1)
Mark Wahlberg, 'The Departed' (Open: 6-1) (Current: 18-1)
** Eddie is about to "party all the time" but still needs to hold off a closing Arkin. Alan, the snorting, dance-steppin' grandpa, is starting to put some pressure on Mr. Murphy. In both Actor categories, you would think it would be the other way around -- but it's the older gents coming on strong in the end.

Performance by an Actress in a Supporting Role
Jennifer Hudson, 'Dreamgirls' (Open: 7-5) (Current: 3-5)
Cate Blanchett, 'Notes on a Scandal' (Open: 2-1) (Current: 7-1)
Adriana Barraza, 'Babel' (Open: 4-1) (Current: 10-1)
Rinko Kikuchi, 'Babel' (Open: 6-1) (Current: 9-1)
Abigail Breslin, 'Little Miss Sunshine' (Open: 8-1) (Current: 5-1)
** I still believe Jennifer is going to grab a victory, but if there is a surprise in the four top acting categories, it's this one. Any one of the five could win here, but Jennifer does hold a slight lead heading into the last turn.

Achievement in Directing
Clint Eastwood, 'Letters From Iwo Jima' (Open: 2-1) (Current: 5-1)
Martin Scorsese, 'The Departed' (Open: 5-2) (Current: Even)
Alejandro Gonzalez Inarritu, 'Babel' (Open: 3-1) (Current: 4-1)
Stephen Frears, 'The Queen' (Open: 6-1) (Current: 14-1)
Paul Greengrass, 'United 93' (Open: 10-1) (Current: 10-1)
** Do you want a long shot? The grass is greener on the other side and some voters might see it that way. Mr. Greengrass would be the perfect long shot to overcome three big favorites to shock everyone. Martin probably deserves it, Clint a regular with shelf space waiting, Alejandro did a marvelous job; with that said, these four could split the votes and Paul could easily sneak up on them.

Best Motion Picture of the Year
'The Departed' (Open: 5-2) (Current: 2-1)
'Babel' (Open: 3-1) (Current: 7-2)
'Little Miss Sunshine' (Open: 10-1) (Current: 4-1)
'Letters From Iwo Jima' (Open: 4-1) (Current: 12-1)
'The Queen' (Open: 6-1) (Current: 10-1)
** Ohhhh, the drama! The 'Sunshine' is coming through in the end. The 'Little' film has so much momentum that 'Babel' and 'The Departed' need a timeout. I do believe it's a three-movie race and any one of these films could win. This will be a great way to finish the night. Enjoy the Oscars, everyone!

[Note: Vegas oddsmaker Jay Kornegay is executive director of the Las Vegas Hilton SuperBook with more than 17 years of race and sports book experience. Legal disclaimer: Predictions made by Jay Kornegay are for entertainment purposes only. We do not accept, and this information should not be used for, any wagering, betting, gaming or gambling in any form or manner.]