Inside the Oscars: Who Will Win an Academy Award?

Tight races in many categories make for an exciting finish on Hollywood's biggest night.
3:00 | 02/28/14

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Transcript for Inside the Oscars: Who Will Win an Academy Award?
Robin Roberts at the Dolby theatre where the oscars will take place. She has the only camera allowed inside the theater before Oscar Sunday. Hello, robin. Hey there, Lara. Looking forward to seeing you out other soon. I'm on this man's turf. We're talking John -- John? I'm with you right now and can't -- Chris Connelly. You have got to tell us about these matchups. It is like some of the closest races we've seen in a while. It's crazy but the oscars about 60 hours from now. All kinds of conventional wisdom on who's most likely to win but the conventional wisdom is not always wisdom. ♪ three major categories could offer edge of your seat Oscar spectating. Supporting actress looks like a two-person race. The explosive gifts of last year's best actress, Jennifer Lawrence from "American hustle." No, Danny, not that one. That one is empty. Reporter: Versus the searing anguish of "12 years a slave" star Lupita nyong'o. Cotton day in and day lot. Reporter: J. Law got a bafta. Lupita, the S.A.G. Award and critical kudos too and she's the likely winner. Best actor is absolutely loaded with possibilities. No big deal. Reporter: Late buzz gives Leonardo Dicaprio so irrepressibly enjoyable in "The wolf of Wall Street." Advantage to everyone. No. Real hope of taking home his first Oscar. Bruce Dern in "Nebraska" has a 50-year film career and strong sentiment on his side. I'm running out of time. Anything to declare. Reporter: Yet the favorite remains math knew mcconaughey and "Dallas buyers club" losing 45 pounds and using his box office superpowers for good. They're not illegal. They're unapproved. Reporter: Best picture shapes up as a three movie donnybrook. "Gravity," "American hustle" or "12 years a slave." Some academy watchers suggest a grand bargain has been struck with voters giving "Gravity's" visionary Alfonso cuaron best director while "12 years a slave" secures the best picture Oscar. But you'll be the last to know. No, no, no. That's the truth. Reporter: If you don't watch. Let's go back, Chris to best picture. A lot of factors here. A lot of things in play. This is how close the race S the producers guild which does the same type of preferential voting during the oscars tied for best picture between relief grandfather and "12 years a slave" so this could be a tie. It could go right down to who lists these movies as second or third on their preferential ballot so this is a nail biter. All right, Chris, good to be out here with you.

This transcript has been automatically generated and may not be 100% accurate.

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