People who have a strong tendency to gambling will bet on anything they can. There are people who bet on the colour of the next car which is coming down the street or any other random event that may happen anytime of the routine.
And regards Academy Awards, there must be many gamblers willing to make their guesses, since movies play a big role in many people's lives and also because there is a profit opportunity available for those who consider themselves to be experts on this matter.
I agree with you, when you're a bettor you can bet on everything, including sports, games or events you don't understand. Because when you're used to betting, you know what is important to look at for placing good bets and making good guesses. Besides that klidex is right, bets are open since several days and the pools are still very low, only few hundreds of bets have been placed till now while Oscars ceremony will be held in only 2 weeks.