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Paramount Pictures has set Mark Wahlberg’s “The Gambler” for an Oscar-qualifying run with a Dec. 19 limited opening and a Jan. 1 expansion.

“The Gambler,” also starring Jessica Lange, Michael K. Williams and Brie Larson, is directed by Rupert Wyatt from a William Monahan script.

“The Gambler” is a remake of the 1974 James Caan film, written by James Toback, in which a college professor sees his gambling addiction spiral out of control. Toback based the script on his own experiences while teaching in New York City.

Paramount launched development of the project in 2011 with original producers Irwin Winkler and Robert Chartoff. Stephen Levinson and David Winkler are also producing the remake.