Although not everyone is ready to see a gay romance dominate the Oscars, Brokeback Mountain is an obvious favorite with both critics and odds makers. Aces.com favors the controversial picture to win at 1-10 odds (odds at Aces.com as of March 2, 2006).

Although Aces.com is a little bit of Las Vegas online, they’re offering better payouts than Vegas hotels on Brokeback Mountain. The Las Vegas Sun reports that the Wynn Las Vegas, for example, put the movie’s odds at 3-5.

“I know some books have shortened the odds on Brokeback Mountain this week,” said Aces.com Manager Rene Quesada. “We’ve still got it at 1-10 though ? a pretty good payout if you think Hollywood is ready to honor a gay cowboy movie. If not, you could go with Crash ? but a three dollar bet only wins two.”

Brokeback Mountain has already won the Directors Guild Award the Producers Guild Award and the Golden Globe. Since 1989, when the PGA came into existence, nine pictures have won all of these awards and eight of the nine have gone on to win the Academy Award for best picture.

Odds makers seem to doubt Best Supporting Actor will go to a gay cowboy. Jake Gyllenhaal is only given 7-2 odds for his role in Brokeback Mountain while George Clooney is at 2-3 for Syriana, as is Paul Giamatti for Cinderella Man.

Although some critics argue that she really played a Supporting Actress roll in Walk the Line, Reese Witherspoon is an obvious winner in the Best Supporting Actress.

“Reese Witherspoon for Best Actress ? that’s a no-brainer,” said Quesada. “At odds of 1-6, we’re seeing a lot of Aces.com players putting money on her.”

Complete odds for this weekend’s Academy Awards are updated daily at Ace.com where other entertainment props on American Idol, The Amazing Race and Survivor Panama are also posted.