Cate Blanchett’s odds of winning this year’s Best Actress Oscar have tumbled into $1.05 at Sportingbet after the Australian actress picked up the Best Actress BAFTA for her performance in Woody Allen’s Blue Jasmine.

The odds of $1.05 represent as close to a sure-thing as you can get with Sportingbet. Champion racehorse Black Caviar only started at shorter odds once in her unbeaten 25 start career.

“The punters that backed Cate at $1.60 to win the Golden Globe/BAFTA/Oscar trifecta can start counting their money,” Sportingbet’s Andrew Brown said.

“Cate is the shortest-priced favourite we’ve had to win an Oscar in recent memory.”

Blanchett’s closest rival, according to the odds, is Amy Adams at $11.

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2014 Oscars – Best Actress

Sportingbet market

Cate Blanchett $1.05

Amy Adams $11

Sandra Bullock $15

Judi Dench $34

Meryl Streep $67