Bookies have slashed odds on Cats being named Best Picture at next year’s Oscars.

There has been a flurry of betting on the star-studded musical being given the coveted accolade following the release of a trailer for the film.

Featuring Taylor Swift, Dame Judi Dench, James Corden, Jennifer Hudson and Sir Ian McKellen, the unusual trailer immediately divided opinion.

There was passionate online reaction to the CGI imagery, with some commentators finding the visuals “nightmarish”.

Despite this, Ladbrokes has revealed that odds on the film picking up an Oscar next year have been slashed.

Alex Apati, of Ladbrokes, said: “It’s certainly got people talking and as things stand Cats is proving a popular pick with punters to win Best Picture at next year’s Oscars.”

It is now the most popular bet among those picking the next Academy Awards wins, although the film itself is not yet a front-runner for the Best Picture award.

Once Upon A Time In Hollywood remains favourite, at 8-1, with Cats sitting at 16-1.