Online betters back Hobbit staying in NZ

Image of the ipredict website.

Betting Kiwis are putting their money on the production of The Hobbit remaining in New Zealand.

Prime Minister John Key is this afternoon meeting Warner Brothers executives who are considering moving The Hobbit off-shore.

Prediction website iPredict is running three contracts related to the films and the surrounding controversy.

At 2pm today, the market suggested only a 13.39 per cent probability The Hobbit would be leaving New Zealand.

Users of the site also overwhelmingly believe the Government will offer "substantial additional public support for the production", with prices showing a 75.65 per cent probability.

John Key will meet with the executives today, and extra incentives such as tax breaks or changes to industrial laws have not been ruled out.

The probabilities are determined by the number of users and the amount they prepared to place on each scenario.

Another contract allows punters to place a bet on whether Council of Trade Unions president Helen Kelly will still be the position come the end of year. Ms Kelly has been criticised by Sir Peter for her role in the dispute, however there is a 95.26 per cent probability of her retaining her job.

iPredict is owned by Viclink, the commercial arm of Victoria University of Wellington, and operates with authorisation from the Securities Commission.

- NZHERALD STAFF