Yes! Bookies have set their eyes on Slumdog Millionaire now. Indian hookies and punters, who are used to betting only on cricket matches, are casting their money in favour of Slumdog Millionaire's Oscar chances. A whopping Rs. 2 billion ($41 million) is estimated to be riding on the flick which narrates the rags-to-riches saga of an Indian slum-dweller.

With the Oscars being announced on February 22nd and many critics and Oscar-pundits prophesying that Slumdog Millionaire is sure to sweep the Oscars, Indian bookies are betting high on the movie. The movie has 10 Oscar nominations, of which 3 are for Indian music maestro A.R. Rahman.

Check out

Slumdog Millionaire wins 10 Oscar Nominations

A.R. Rahman gets 3 Oscar nominations

A.R. Rahman, who has been nominated for 'Best Original Song' category for his songs 'Jai Ho' and 'O Saya' and 'Best Original Score' for a motion picture, is reported to be the bookies' favourite. Most punters are said to be certain of Rahman's Oscar chances and are betting heavily on him.

If the Indian betting scene is all for Rahman, the international scene is all for Danny Boyle. On betting sites like Paddy Power and Betus.com, bets are higher for the 'Best Film' and the 'Best Director' categories than for other categories.

The international betting game on Slumdog Millionaire started right when the Oscar nominations were announced. But Indian bookies started only recently as this is the first time they are betting on Oscars. A hookie said that the Indian punters are yet to catch up on the idea of betting on Oscars and hence many are confused on how and where to bet.

The recent BAFTAs, the Golden Globes and the Directors' and Producers' Guild of America laurels have fuelled Slumdog Millionaire's Oscar hopes. Everyone who likes the movie is certain of it winning laurels at the Academy Awards ceremony. No wonder Indian bookies and punters are betting on the movie's Oscar chances.

Hope A.R. Rahman bags an Oscar and brings cheer to fans. Of course, the bookies and the punters -- only one group will have reason to smile -- the group of persons who become millionaires due to their shrewd betting!

Check out:

7 BAFTAs for Slumdog Millionaire

Slumdog Millionaire at Annual Critics Choice Awards

A R Rahman wins Golden Globe for Slumdog Millionaire

Danny Boyle bags DGA Award for Slumdog Millionaire

What do you think of Rahman's chances at the Oscars? How do you think Slumdog Millionaire will fare?

Post your views on A.R. Rahman and Slumdog Millionaire at the Oscars.