Will Kate Winslet cry? Will Sean Penn go long? Can Mickey Rourke pull off an upset for bettors?

Bettors are gearing up for the The Academy of Motion Picture Arts and Sciences is 81st Annual Academy Awards show, aka the Oscars, this Sunday and while Hollywood is making preparations, so are the bettors.

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Entertainment bets and propositions are gaining in popularity as more online sportsbooks are offering a wide variety of options related to movies and the like-there are a number of these fun Oscar prop wagers floating around for this Sunday's awards show.

Let's have a look at a few of the Oscar wagers that have been popular with bettors heading into this weekend.

- After fading into the abyss, what do you know, but Mickey Rourke has become relevant in Hollywood again. Thanks to his compelling portrayal of over the hill wrestler Randy "The Ram" Robinson in the film "The Wrestler"; Rourke (+100) is up for Best Actor. Bettors like his chances, not as much as the guy below, but Rourke is definitely the favorites amongst bettors looking for an underdog upset.

Mickey is seeing 35% of the betting action at online sports book SPORTSBETTING.com.

- While much of the talk surrounds "The Ram," Sean Penn's turn as openly-gay politician Harvey Milk, in the movie Milk, is the performance tabbed as the most likely to win this category. Penn is currently listed as a -125 favorite and the Oscar betting public have responded by backing him with 60% of the Best Actor action.

- Best Picture: Slumdog Millionaire (-1000) was a film that seemingly came out of nowhere and won the hearts of critics, audiences and now bettors; the love story about a teen from the Mumbai ghetto that goes on India's version of "Who wants to be a Millionaire?" is getting an overwhelming 85% of the action in Best Picture betting.

- The Best Actress category is offering up some drama at SPORTSBETTING.com, as the top three are all seeing decent action from the betting public. Six-time nominee Kate Winslet (-250) is the favorite (40% of the betting volume) for her role in The Reader, but past winner Meryl Streep (+300) is close on her heels, as she is being backed with 30% of the volume for the movie Doubt. Making this a three-horse race is Anne Hathaway (+400) as she is at the 20% mark for her performance in Rachel Getting Married.

- Slumdog Millionaire's director Danny Boyle (-900) is getting a lion's share of the wagers for Best Director.

On top of the usual award winner bets online sportsbooks are having some fun with the wagering options they are putting up.

Here is a look at the action on a few of the more unique propositions out there.

- Thanks Mom: Not this time

Who will the Best Actor at the 81st Academy Awards thank first in his speech? God , family or the Academy (-130) or somebody or something else (-110)? The Academy is getting 75% of the prop wager volume in this one.

The betting patterns in the following two prop demonstrate the differences between the sexes.

- For the "Best Actor Winner - 81st Academy Awards - Will they CRY during the live acceptance speech on ABC (Reported by Mainstream Media as Crying or Tearing)" prop, Yes pays out at +275 and No at -400.

No is receiving almost all of the prop action at 90%.

On the other hand, the "Best Actress Winner - 81st Academy Awards - Will they CRY during the live acceptance speech on ABC (Reported by Mainstream Media as Crying or Tearing)" sees Yes at-220 and No at +170?

Following Gwyneth Paltrow and Halle Berry, Yes is getting a 65% majority of the betting action.

- Time limits were placed on acceptance speeches because if there weren't restrictions, the show would run over by eight hours or more but the limit hasn't stopped long speeches.

In the "Best Actor Winner - 81st Academy Awards - Will the live acceptance speech on ABC Last Longer then the 45 Second Time Limit," Yes is listed at -240 and No at +180.

Not surprisingly Yes is the choice of the majority of bettors at 80%.

Likewise for the Best Actress time limit, Yes is listed at -220 and No at +170-again, Yes is seeing a majority of the action, this time at 75%.

The show goes live and begins on 5pm PST and 8pm EST on ABC.

You can visit online sportsbook SPORTSBETTING.com to see all the prop wagers open for this year's Oscar awards.