LINCOLN might have earned the most nominations, but Argo is the hot favourite to win Best Picture at today's Oscars.
The 85th annual Academy Awards start at 12.30pm ADST at LA's Dolby Theatre, with hundreds of celebs preparing to walk the famous red carpet.
Ben Affleck's CIA drama Argo, based on the real-life story of the rescue mission of six American diplomats from Iran in the 1980s, has firmed up as the Oscars favourite after winning three BAFTA's, two Golden Globes and three SAG Awards.
Despite winning a BAFTA for his directing effort, Affleck was not nominated for Best Direction at the Oscars.
That award is most likely to go to Steven Spielberg for his Presidential biopic Lincoln, with Sporting Bet placing the director at 0.44 odds.
Lincoln star Daniel Day-Lewis is also the hot favourite to win Best Actor over Aussie Hugh Jackman, whose Les Miserables co-star Anne Hathaway is a shoe-in for Best Supporting Actress.
Django Unchained star Christoph Waltz is also widely expected to win Best Supporting Actor.
The Best Actress category is a bit more contentious , with many putting the race down to Jessica Chastain for Zero Dark Thirty and Jennifer Lawrence for Silver Linings Playbook.
Neither of the other two Aussie nominees - Jacki Weaver for Silver Linings Playbook and Naomi Watts for The Impossible - are expected to win.
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