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Atlantic Lottery will be taking bets on the top movie of the year, leading actors and more up until Oscar night, Feb. 24. (CBC)

Atlantic Lottery is now taking bets on the Oscars, making it the first and only regulated lottery in Canada to offer bets on award shows.

"We’re always looking for new products — or a fresh take on an existing one — that our players will find entertaining," James Reilly, senior brand manager of sports lotteries with Atlantic Lottery, stated in a news release.

"It was an obvious choice to offer since millions of people tune in to the annual awards show," said Reilly.

"People are always casting their votes around the water cooler at work and now they have the option to make their predictions pay off," he said. "It gives them a safe and regulated way to have some fun with their personal choices."

The new feature is part of Atlantic Lottery's Pro-Line Futures offerings.

Bets can be made online at ProlineStadium.com and at retail outlets until the big night — Feb. 24.

The annual honour is the world’s highest-profile film award and celebrates cinematic excellence in movies released theatrically over the past year. Voters of the U.S. Academy of Motion Picture Arts and Sciences choose winners in 24 categories.

The 2013 Oscar ceremony will be broadcast from the Dolby Theatre in Hollywood and will air live in more than 225 countries.