It's that time of year again, and even though Buzzy thinks some of the nominations were questionable (The Reader as best picture? Gran Torino not nominated for anything?), movie buffs around the world can now bet on the 2009 Academy Awards at William Hill.

Slumdog Millionaire
is the runaway favorite for best picture at 1/4, while Heath Ledger is the biggest favorite on the board as a 1/12 favorite for his supporting turn in The Dark Knight.

The major nominations and their odds are as follows:

Best Film:

Slumdog Millionaire: 1/4
The Curious Case of Benjamin Button: 9/2
Milk: 10/1
Frost/Nixon: 16/1
The Reader: 16/1

Best Actor:

Mickey Rourke: 4/5
Sean Penn: 11/8
Frank Langella: 7/1
Brad Pitt: 16/1
Richard Jenkins: 22/1

Best Actress:

Kate Winslet: 5/6
Meryl Streep: 5/2
Anne hathaway: 3/1
Angelina Jolie: 12/1
Melissa Leo: 20/1

Best Supporting Actor:

Heath Ledger: 1/12
Josh Brolin 10/1
Michael Shannon: 12/1
Phillip Seymour Hoffman: 12/1
Robert Downey, Jr.: 22/1

Best Supporting Actress:

Penelope Cruz: 4/5
Viola Davis: 10/3
Marisa Tomei: 7/2
Taraji P. Henson: 7/1
Amy Adams: 12/1

Best Director:

Danny Boyle: 4/9
David Fincher: 7/2
Ron Howard: 8/1
Stephen Daldry: 8/1
Gus Van Sant: 10/1