So, what is this, anyway?
This is the Academy Awards Pool, which Amanda and I have been running since 1998. It's a friendly little pool that makes an official competition out of handicapping the Oscars. Everybody chips in $5, predicts the winners for each category, and the top three finishers take home some extra cash.
It's that simple?
Well, not quite that simple, but yeah, pretty close. For example, we assign point values to each category, based on what we feel is the level of interest for most people. So that way, if you correctly predict Best Picture, it's more valuable than if you correctly predict sound editing. Plus we have a fun tiebreaker every year. There are more details in the entry form.
So why do you do it?
Because it's fun. The Academy Awards is all about extravagance and politics and cheese, so what could make it more fun than putting some cash money on it? We've found that the Oscars are a great deal more exciting when you have a stake in the proceedings, and a scorecard with which to follow along and root for your picks.
But doesn't that mean I have to see all the movies?
Oh, gosh no. Nobody sees all of the movies. Not even the Academy members who are voting on them. In fact, we've found that seeing most of the movies is just as likely to be a handicap as it is an advantage, when it comes to predicting winners. If you see all of the movies, then it's sometimes hard to avoid choosing the nominees you think should win, rather than the nominees the Academy thinks should win. In truth, given the political nature of the awards, it's just as much about listening to the buzz and reading the press as it is about actually knowing anything about the movies. We've had winners who haven't seen a single one of the Best Picture nominees.
Do I have to come to a party to join the pool?
Not at all. You're more than welcome to join us, of course, but everything is done via the website. The day before the ceremony, we post everybody's picks so that you can follow along. Also, for the first time this year, we're going to be updating the standings on the website live as each award is announced. So you can fire up the web browser and have it running while you watch the show at home... or just check in afterwards to see if you've won.
What's this about not being able to use a credit card for PayPal?
We definitely get asked this a lot, and here's the deal. If you use PayPal to send us your entry fee, it can't be financed with a credit card because we don't have a merchant account. We don't have a merchant account because PayPal takes a bite out of all incoming transfers to merchant accounts, and since the Academy Awards Pool is being done for fun rather than profit, we'd prefer not to line PayPal's pockets in the process if we can avoid it :-) Essentially, if you're not familiar with PayPal, you can send money via PayPal in one of two ways... you can fund your transfer with a credit card purchase, or you can link your PayPal account to a bank account, and transfer in funds, which can then be used to make payments. So for us to be able to receive your payment, you either have to have an existing balance in your PayPal account at the time you make the transfer, or you have to transfer money into your PayPal account from a linked bank account. Bear in mind that if you're not already set up with a linked bank account, the process of setting one up takes a week or two. So if you're planning on paying with PayPal and aren't set up with a linked bank account, you'll need to give yourself some time before the deadlins. Or you could just send us a check. We're not picky.