Luvvies won't be the only ones sweating when Oscar nominations are announced this Tuesday, writes Nick Mathiason. For the first time British punters can spread bet on cinema's most prestigious awards.

Cantor Index last week released its spreads on Oscar nominations and awards. Favourite is Lord of the Rings, tipped to bag five or six Oscars, followed by Ron Howard's A Beautiful Mind. Russell Crowe, who won Best Actor last year for Gladiator, is tipped to repeat his success with A Beautiful Mind; Sissy Spacek is expected to win Best Actress.

With Cantor Movies, which started last July, gamblers can bet on how much a film will gross in its first weekend. Cantor has 17,000 UK traders playing Hollywood Stock Exchange - players sell shares in actors, films and artists using fantasy Hollywood dollars.