Steve McQueen's '12 Years A Slave' Could Earn Chiwetel Ejiofor A Best Actor Oscar (VIDEO)

WATCH: '12 Years A Slave' Trailer Boasts A Best Actor Contender

The odds on actor Chiwetel Ejiofor winning the Best Actor award at next year’s Oscars have been slashed, after the trailer for Steve McQueen's star-studded new film, '12 Years A Slave,' debuted online.

The first trailer for the film based on the true story of Solomon Northup, a New York resident who was kidnapped and sold into slavery in 1841 before escaping 12 years later, boasts an impressive cast that includes Michael Fassbender as a plantation owner alongside 'Downton Abbey' newcomer Paul Giamatti and 'Star Trek' villain Benedict Cumberbatch.

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Benedict Cumberbatch and Chiwetel Ejiofor

Paul Dano, Michael K. Williams, Quvenzhane Wallis, Alfre Woodard, Scoot McNairy, Taran Killam and Brad Pitt - as an abolitionist - also star.

Paddy Power announced on Tuesday that odds on Ejiofor, who plays Solomon, taking the prestigious gong at the 86th Academy Awards have been slashed from 20/1 to 10/1 after a series of large bets were placed on him.

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However, film lovers are still massively favouring 9/2 shot Idris Elba with hundreds of bets being placed on him to keep him in pole position for his portrayal as Nelson Mandela in the 'Long Walk to Freedom'.

And Leonardo DiCaprio is still very much in the running at 5/1 for his new flick 'The Wolf of Wall Street'. Having never yet bagged an Oscar despite two nominations, this could be Leo’s year.

'12 Years a Slave' will get a limited release in the US on 18 October, and will arrive in the UK on 23 January 2014.

Benedict Cumberbatch
Broadcasting Press Guild TV & Radio Awards - Arrivals(01 of30)
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LONDON, ENGLAND - MARCH 14: Benedict Cumberbatch attends the Broadcasting Press Guild TV and Radio awards on March 14, 2013 in London, England. (Photo by Ben Pruchnie/Getty Images) (credit:Getty Images)
Broadcasting Press Guild TV & Radio Awards - Arrivals(02 of30)
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LONDON, ENGLAND - MARCH 14: (L-R) Tom Stoppard and Benedict Cumberbatch attend the Broadcasting Press Guild TV and Radio awards on March 14, 2013 in London, England. (Photo by Ben Pruchnie/Getty Images) (credit:Getty Images)
Sky Arts South Bank Awards Arrivals - London(03 of30)
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Benedict Cumberbatch in the press room at the Sky Arts South Bank Awards, at the Dorchester hotel, in central London. (credit:PA)
Tommy Hilfiger and Esquire party - BFC's London Collections: Men(04 of30)
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Benedict Cumberbatch arrives at the Tommy Hilfiger and Esquire party, celebrating the second London Collections:Men at the Zetter Townhouse in London. (credit:PA)
smartwater At The Golden Globes Red Carpet(05 of30)
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BEVERLY HILLS, CA - JANUARY 13: Actor Benedict Cumberbatch arrives at the 70th Annual Golden Globe Awards held at The Beverly Hilton Hotel on January 13, 2013 in Beverly Hills, California. (Photo by Alexandra Wyman/Getty Images for smartwater) (credit:Getty Images)
BAFTA Los Angeles 2013 Awards Season Tea Party - Arrivals(06 of30)
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LOS ANGELES, CA - JANUARY 12: Actor Benedict Cumberbatch arrives at the BAFTA Los Angeles 2013 Awards Season Tea Party held at the Four Seasons Hotel Los Angeles on January 12, 2013 in Los Angeles, California. (Photo by David Livingston/Getty Images) (credit:Getty Images)
The Evening Standard Theatre Awards - London(07 of30)
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Benedict Cumberbatch arrives at the Evening Standard Theatre Awards, held at the Royal Opera House in Covent Garden, London. (credit:PA)
BALLY And Everest 60th Anniversary Event(08 of30)
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LONDON, ENGLAND - JANUARY 07: Actor Benedict Cumberbatch attends the 'BALLY Celebrates 60 Years of Conquering Everest' at Bedford Square Gardens on January 7, 2013 in London, England. (Photo by Ben Pruchnie/Getty Images for BALLY) (credit:Getty Images)
Tommy Hilfiger & Esquire - London Collections: MEN AW13(09 of30)
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LONDON, ENGLAND - JANUARY 07: Benedict Cumberbatch attends the Tommy Hilfiger & Esquire event as part of the London Collections: MEN AW13 at Zetter Townhouse at on January 7, 2013 in London, England. (Photo by Tim Whitby/Getty Images) (credit:Getty Images)
ITV3 Specsavers Crime Thriller Awards 2012 - London(10 of30)
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Una Stubbs, Benedict Cumberbatch and Lara Pulver arrive for the Specsavers Crime Thriller Awards at the Grosvenor House Hotel, London. (credit:PA)
US-ENTERTAINMENT-BAFTA TV TEA(11 of30)
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Actor Benedict Cumberbatch arrives at the British Academy of Film and Television Arts Los Angeles TV Tea 2012 in Los Angeles, California, on September 22, 2012. AFP PHOTO / VALERIE MACON arrives at the Premiere of CBS Films' Salmon Fishing in the Yemen, in Los Angeles, California, on March 5, 2012. AFP PHOTO/VALERIE MACON arrives at the Premiere of CBS Films' Salmon Fishing in the Yemen, in Los Angeles, California, on March 5, 2012. AFP PHOTO/VALERIE MACON arrives at the Premiere of CBS Films' Salmon Fishing in the Yemen, in Los Angeles, California, on March 5, 2012. AFP PHOTO/VALERIE MACON (Photo credit should read VALERIE MACON/AFP/GettyImages) (credit:Getty Images)
The Academy Of Television Arts & Sciences Performer Nominees' 64th Primetime Emmy Awards Reception - Arrivals(12 of30)
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WEST HOLLYWOOD, CA - SEPTEMBER 21: Actor Benedict Cumberbatch attends The Academy Of Television Arts & Sciences Performer Nominees' 64th Primetime Emmy Awards Reception at Spectra by Wolfgang Puck at the Pacific Design Center on September 21, 2012 in West Hollywood, California. (Photo by Imeh Akpanudosen/Getty Images) (credit:Getty Images)
The Dark Knight Rises - European Premiere(13 of30)
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LONDON, ENGLAND - JULY 18: Benedict Cumberbatch attends European premiere of 'The Dark Knight Rises' at Odeon Leicester Square on July 18, 2012 in London, England. (Photo by Ian Gavan/Getty Images) (credit:Getty Images)
The Serpentine Gallery - Summer Party - Arrivals(14 of30)
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LONDON, ENGLAND - JUNE 26: : Benedict Cumberbatch attends the Serpentine Gallery Summer Party at The Serpentine Gallery on June 26, 2012 in London, England. (Photo by Stuart Wilson/Getty Images) (credit:Getty Images)
The Fifth Annual Veuve Clicquot Polo Classic - Red Carpet Arrivals(15 of30)
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JERSEY CITY, NJ - JUNE 02: Actor Benedict Cumberbatch attends the fifth annual Veuve Clicquot Polo Classic on June 2, 2012 in Jersey City. (Photo by Andrew H. Walker/Getty Images for Veuve Clicquot Polo Classic) (credit:Getty Images)
The Fifth Annual Veuve Clicquot Polo Classic - Red Carpet Arrivals(16 of30)
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JERSEY CITY, NJ - JUNE 02: Actor Benedict Cumberbatch attends the fifth annual Veuve Clicquot Polo Classic on June 2, 2012 in Jersey City. (Photo by Andrew H. Walker/Getty Images for Veuve Clicquot Polo Classic) (credit:Getty Images)
69th Annual Golden Globe Awards - Arrivals(17 of30)
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BEVERLY HILLS, CA - JANUARY 15: Actor Benedict Cumberbatch arrives at the 69th Annual Golden Globe Awards held at the Beverly Hilton Hotel on January 15, 2012 in Beverly Hills, California. (Photo by Jason Merritt/Getty Images) (credit:Getty Images)
Vanity Fair & Fisker Automotive Toast Dreamworks Pictures Golden Globes Best Drama Nominations "The Help" And "War Horse"(18 of30)
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LOS ANGELES, CA - JANUARY 13: Jeremy Irvine (L) and Benedict Cumberbatch attend Vanity Fair & Fisker Automotive Toast Dreamworks Pictures Golden Globes Best Drama Nominations 'The Help' And 'War Horse' at Cecconi's Restaurant on January 13, 2012 in Los Angeles, California. (Photo by Charley Gallay/Getty Images for Vanity Fair) (credit:Getty Images)
Vanity Fair & Fisker Automotive Toast Dreamworks Pictures Golden Globes Best Drama Nominations "The Help" And "War Horse"(19 of30)
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LOS ANGELES, CA - JANUARY 13: Benedict Cumberbatch and Lydia Hearst attend Vanity Fair & Fisker Automotive Toast Dreamworks Pictures Golden Globes Best Drama Nominations 'The Help' And 'War Horse' at Cecconi's Restaurant on January 13, 2012 in Los Angeles, California. (Photo by Charley Gallay/Getty Images for Vanity Fair) (credit:Getty Images)
Spencer Hart And Samsung Galaxy Note Party To Celebrate The Golden Globe Nominations(20 of30)
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LOS ANGELES, CA - JANUARY 11: Benedict Cumberbatch at Spencer Hart And Samsung Galaxy Note Party To Celebrate The Golden Globe Nominations held at The Writer's Room on January 11, 2012 in Los Angeles, California. (Photo by Alexandra Wyman/Getty Images Spencer Hart & Samsung Galaxy Note) (credit:Getty Images)
British actor Benedict Cumberbatch atten(21 of30)
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British actor Benedict Cumberbatch attends the UK premiere of US director Steven Spielberg's 'War Horse' in Leicester Square, central London on January 8, 2012. Michael Morpurgo's book was turned into a hugely successful international theatrical hit before being made into a film. Starring British actor Jeremy Irvine, the film tells the story of the First World War through the journey of a horse and it's owner. AFP PHOTO / LEON NEAL (Photo credit should read LEON NEAL/AFP/Getty Images) (credit:Getty Images)
War Horse - UK Premiere(22 of30)
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LONDON, ENGLAND - JANUARY 08: Actor Benedict Cumberbatch attends the UK premiere of War Horse at Odeon Leicester Square on January 8, 2012 in London, England. (Photo by Tim Whitby/Getty Images) (credit:Getty Images)
Prince's Trust Rock Gala 2011 - Inside Arrivals(23 of30)
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LONDON, ENGLAND - NOVEMBER 23: Benedict Cumberbatch attends the Prince's Trust Rock Gala 2011 at Royal Albert Hall on November 23, 2011 in London, England. The gala, sponsored by Novae, raises vital funds for the youth charity's work with disadvantaged young people. (Photo by Chris Jackson/Getty Images) (credit:Getty Images)
British actor Benedict Cumberbatch arri(24 of30)
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British actor Benedict Cumberbatch arrives for the British Premiere of his latest film 'Tinker Sailor Soldier Spy', in London's South Bank, on September 13, 2011. AFP PHOTO/ Max Nash (Photo credit should read MAX NASH/AFP/Getty Images) (credit:Getty Images)
"Tinker, Tailor, Soldier, Spy" Premiere - 68th Venice Film Festival(25 of30)
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VENICE, ITALY - SEPTEMBER 05: Actor Benedict Cumberbatch attends the 'Tinker, Tailor, Soldier, Spy' premiere at the Palazzo del Cinema during the 68th Venice Film Festival on September 5, 2011 in Venice, Italy. (Photo by Gareth Cattermole/Getty Images) (credit:Getty Images)
"Tinker, Tailor, Soldier, Spy" Premiere - 68th Venice Film Festival(26 of30)
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VENICE, ITALY - SEPTEMBER 05: Actor Benedict Cumberbatch attends the 'Tinker, Tailor, Soldier, Spy' premiere at the Palazzo del Cinema during the 68th Venice Film Festival on September 5, 2011 in Venice, Italy. (Photo by Pascal Le Segretain/Getty Images) (credit:Getty Images)
Celebrities At The Lancia Cafe - September 5, 2011(27 of30)
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VENICE, ITALY - SEPTEMBER 05: Actor Benedict Cumberbatch visits the Lancia Cafe during the 68th Venice Film Festival on September 5, 2011 in Venice, Italy. (Photo by Tullio M. Puglia/Getty Images for Lancia) (credit:Getty Images)
"Tinker, Tailor, Soldier, Spy" Premiere - 68th Venice Film Festival(28 of30)
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VENICE, ITALY - SEPTEMBER 05: Actors Colin Firth, Gary Oldman, Benedict Cumberbatch and John Hurt attend the 'Tinker, Tailor, Soldier, Spy' premiere at the Palazzo del Cinema during the 68th Venice Film Festival on September 5, 2011 in Venice, Italy. (Photo by Pascal Le Segretain/Getty Images) (credit:Getty Images)
British actor Benedict Cumberbatch arriv(29 of30)
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British actor Benedict Cumberbatch arrives for the screening of 'Tinker, Tailor, Soldier, Spy' at the 68th Venice Film Festival on September 5, 2011 2011 at Venice Lido. 'Tinker, Tailor, Soldier, Spy' is competing for the Golden Lion in the Venezia 68 category. AFP PHOTO / TIZIANA FABI (Photo credit should read TIZIANA FABI/AFP/Getty Images) (credit:Getty Images)
British actor Benedict Cumberbatch arriv(30 of30)
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British actor Benedict Cumberbatch arrives for the screening of 'Tinker, Tailor, Soldier, Spy' at the 68th Venice Film Festival on September 5, 2011 2011 at Venice Lido. 'Tinker, Tailor, Soldier, Spy' is competing for the Golden Lion in the Venezia 68 category. AFP PHOTO / ALBERTO PIZZOLI (Photo credit should read ALBERTO PIZZOLI/AFP/Getty Images) (credit:Getty Images)