In just two days we will all have a huge entertainment decision. Which group of uninterested millionaires should we watch – The NFL’s best at the Pro Bowl or music’s royalty at the Grammys? But a larger decision looms. Which event is the one to bet on?

The NFL seems very happy with itself over the whole week-before-the-big-game exhibition. They build-up of excitement surely has fans and bettors alike writhing their hands in anticipation of this Sunday’s matchup. The league may have moved the date of this game to keep bettors active in what normally would be a dead week, knowing that fan support only goes so far. But considering their stance on betting, I am sure that this ever crossed the mind of league officials (wink, wink).

Football is the hold grail of sports betting and when the real games and the real point spreads are gone, so are the players, taking with them all deposits and winnings. It will be 6 long months before sportsbooks will have a chance at winning back any of that money again. Perhaps league officials have spoken with offshore operators who tell them that the week after the Super Bowl over 50% of the players withdraw their balances, resulting in very little action for the Pro Bowl. Still, this new format does not appear to be breaking from tradition, even if players do have available balances. Players who are willing to wager on the game have not stepped up to the plate yet, with several outlets reporting almost no action on the Pro Bowl just 48 hours before the game. On gameday, one way to get in on some meaningful action is through live betting. 5Dimes will be offering wagering on the live action during the game and expects more volume on the live wagering than on wagers made before the game!

The Grammy are the Super Bowl of the music world. And, there are more betting options available, but surprisingly the event is not available at every outlet. A quick perusal of Elite and Premier rated sportsbooks showed that more than half do not have Grammy wagering available yet.

There are actually 4 main categories that are available for Grammy Awards betting action and are the most widely offered. The top wagering categories are Record of the Year, Album of the Year, Song of the Year and Best New Artist. You can also bet on Best Rock Song at SBG Global, Pinnacle (though the field is one of the wagers) and betED. The craziest bet of the event is also available at betED – “Who will be the 1st to invade the stage?” with Lady Gaga as the favorite!

So for my tastes, I know that the Grammys will provide me with at least three-and-a-half hours of totally free, quality entertainment. But can the Pro Bowl guarantee me the same thing? With the replacements and the seeming lack of interest from the players, I’ll watch the Grammys.

But which event gets the wagering dollars?

Again, the Grammys. The Pro Bowl side wager has dropped to two and even 1 online, as if there is much basis for this. The not-so-giant point total has nothing to do with handicapping and frankly, at about the same number as Super Bowl total, may be an attractive betting option. But, with the Grammys you can do a little handicapping. Take a look at album sales, Billboard charts, previous awards shows and even TMZ to get an edge. It’s a shame you cat make parlays out of prop bets, but this is exactly why. Taylor Swift sure looks like easy money in a couple of categories after her hauls at the CMAs (she won all four awards for which she was nominated) and the VMAs (think Kanye West). Swift is the favorite in three available wagering categories. A differing line among several outlets in the Song of the Year Award category and Record of the Year category makes me lean towards the young starlet winning for Album of The Year. Employing the same logic, Pinnacle is leaning far towards Swift in this category; odds are currently at a whopping -113. The Kings of Leon are a sure bet to win the Best Rock Song award but at a long price, if available.

Enjoy watching and good luck with any wager you make, on either event.

For a complete, updated list of Grammy Betting Odds, click here.