The odds are on for the predictions of the 88th Academy Award nominations, and it seems to be all about the biopics with four topping the odds for the Best Picture category and the same ones taking over the Best Director category.

There's been plenty of great movies this year but only five can be selected for a Best Picture nomination. Whilst there was unending hype for such flicks as 'Inside Out', 'Mad Max: Fury Road', 'Spectre' and 'The Hateful Eight', they fail to make the top five when it comes to the betting odds.

SpotlightSpotlight is the top favourite for Best Picture

'Spotlight', starring Mark Ruffalo, Michael Keaton and Rachel McAdams, is a definite favourite with director Thomas McCarthy also in the Best Director predictions. It's a story about the Boston Globe's unveiling of mass child abuse in the Catholic Church in 2002. Another true story, 'Joy'; about the rise to success of single mom entrepreneur Joy 'Miracle Mop' Mangano; is also looking like a promising addition, with star Jennifer Lawrence likely to receive her third Oscar nomination alongside her collaborator and Best Director possible David O Russell.

'The Revenant' and its director Alejandro Gonzalez Inarritu are also among favourites for the Best Picture and Best Director categories respectively, and Leonardo Dicaprio fans are desperate for him to finally land his first Oscar as lead character Hugh Glass; an 1820s frontiersman out for revenge on the men who left him for dead in the wilderness.

Leonardo DiCaprio in The RevenantCould Leonardo DiCaprio finally receive an Oscar?

Other possibles for Best Picture and Best Director are lesbian love story 'Carol' with Todd Haynes (star Cate Blanchett could also face a Best Actress nomination), and 'Steve Jobs' with Danny Boyle. We'd also love to see Ridley Scott's 'The Martian', Steven Spielberg's 'Bridge Of Spies' and 'Inside Out'; the latter of which we're pretty sure has a good chance with Best Animated Feature.

More: Read our review of 'Steve Jobs'

Things get a little bit more varied with the Best Actor category. Eddie Redmayne's a favourite for his portrayal of Lili Elbe in 'The Danish Girl'; one of the first people to undergo gender reassignment surgery; and Johnny Depp's remarkable role as Whitey Bulger in 'Black Mass' has the odds high also. In yet another biopic prediction Tom Hiddleston could be up after playing Hank Williams in 'I Saw The Light', while there's money on Jake Gyllenhaal's performance in 'Demolition'. Our own thoughts are that Tom Hardy definitely deserves a nod for playing both the Kray twins in 'Legend', and Ian McKellen's 'Mr. Holmes' venture is exceptionally worthy.

Eddie Redmayne in The Danish GirlEddie Redmayne has yet another exceptional role in 'The Danish Girl'

Way up on the betting charts for Best Actress is Brie Larson, who plays a kidnapped woman who gives birth to her captor's child and years later decides to finally escape their squalid confinement in 'Room'. Saoirse Ronan's Irish girl in America character in 'Brooklyn' is also being eyed for a nomination, as is Carey Mulligan's feminist Maud Watts in 'Suffragette'. Definitely deserving of a nod also are Emily Blunt for her badass federal agent in 'Sicario' and, of course, Charlize Theron for 'Mad Max: Fury Road'.

The 88th Academy Awards is set to air on February 28th 2016.

Saoirse Ronan in BrooklynSaoirse Ronan plays a young expat in 'Brooklyn'