Betting is usually associated with two things: sports and games of chance (casino), although you could probably make an argument that investing in stock markets and financial products is also a form of gambling. However, punters are increasingly using their knowledge of events outside of the traditional betting sphere to make some profit. This could be anything from the Oscars to the color of the Queen’s hat at a royal wedding.

Crash, the 2006 Best Picture at the Oscars, is a good example of how entertainment buffs could use their insight to make a savvy bet. It was well-behind odds-on favorite Brokeback Mountain right up until a day or two before the 78th Oscars Ceremony, but Paul Haggis’ film took the prize despite being available at long odds just a few days previously.

Crash win stunned many observers

Apart from being a great film, part of the reason cited for the success of Crash is that it dealt with racism, but particularly racism in LA (where most of the Academy voters live). These ‘hot button’ topics are important when making these predictions, so you might be able to make a case for something like Black Panther (a 14/1 outsider in some markets) making its way to the top of the 2019 Oscars at the expense of a frontrunner like the Neil Armstrong biopic, First Man (3/1).

Of course, there is much more than the Oscars to look at. Online betting at a site like Mr Green offers you the chance to bet on a wide range of entertainment and current affairs related markets throughout the year. For example, at the time of writing (June 2018) you can place a bet on the year Prince Harry and the newly-minted Duchess of Sussex, Meghan Markle, will have their first child. The odds are 1/2 for 2019, 7/2 for 2020 and 4/1 for 2021 or any later year. It’s 20/1 if you think the Duchess might already be pregnant and the baby will be born by the end of 2018.

Eurovision not about the music

Seasonal highlights also come in to play in these entertainment markets. Each May, for instance, the Eurovision Song Contest takes place. If you are familiar with how the competition has played out for the last couple of decades, you will know that it’s not all about picking the best song, but rather about working through the diplomatic ‘gifts’ and ‘snubs’ countries will award to each other. Other music-related wagers can be based around the No. 1 single at Christmas time or the biggest selling single of the year on the Billboard Hot 100.

Politics also get a lot of attention. The US has seen a spike of interest in the 2018 mid-term elections ever since Donald Trump tore up the rule book of mainstream politics in 2016. One of the big events is the New York Gubernatorial Election in November. Andrew Cuomo, who is currently the favourite at 3/10, looked to have it wrapped up, but he now faces an increasingly serious-looking challenge from former Sex and the City star Cynthia Nixon (7/2). Can the celebrity challenger take the win?

All of these events take a different kind of skill than sports betting or playing at a casino. But, in their own way, they can become a lot more predictable than those. Put simply, if you have an insight into entertainment, music or politics, you might be better placed to use that knowledge in those fields rather than betting on the next Super Bowl or Stanley Cup.