Awards giving bodies are conceivably unions lobbying for the interest and the achievements of the industry they have sworn to protect. And for that matter, the industry’s most creative and respected minds come together to merit the artists that have yielded outstanding works of art that sets good examples for aspiring artists to follow and the bar high enough for others to go beyond and get better. The prestige that comes with the award not only makes an artist an established name in the industry but also a recognizable household act as well.

It is in these music award shows that fans rally up for their favorites and show support to document some of the most serious followings that the industry has seen. In fact one of the most recognizable trends that have shown up in the recent years is the amount of attention these music awards have gathered in online blog spheres and betting circles. There is nothing more exciting than waiting for the winner’s name to be announced on the day itself if you are the artist; but between that limbo state of giving out the list of nominees and knowing the winners, fans and critics unite to tally the year’s records and speculate the winners.

Musicians and music fans all look up at the Grammys as the music awards organization. And with the awards night happening on January 26th in Staples Center, there are only a few more weeks until fans know the results. Daft Punk and Pharrell Williams’ smashing hit “Get Lucky” battles out Lorde’s catchy song “Royals” and Imagine Dragon’s breakthrough song “Radioactive” for the Record of the Year. But with Sara Bareilles’ “The Blessed Unrest,” debuting in #2 on the Billboard Charts, it establishes her as a tough contender for a Grammy Award.

There’s definitely a unique interplay of actual audience appeal and speculative work with choosing which artist to bet on. It’s not only about whom you like most or who got most views on YouTube, it is also about album sales, over-all perception and of course critic response. In fact, when the 2013 Mercury Music Prize was about to be announced, awarding the best album from the United Kingdom and Ireland, Betfair pegged Laura Mvula as one of the highest rated artist, which was why people were willing to put their money on her winning the prize. James Blake with Overgrown ended up winning the award beating other acts like David Bowie and the Arctic Monkeys.

Although the whole drama of anticipating the winners and betting on big names to bag the big prizes ends just on the night the results are in, it’s still entertaining to see what huge effect these awards do to people, not to mention the kind of overwhelming support the fans give to their favorites and to the industry in general.