Tuesday, January 15, 2013

To beat the lotto ...

Since the film we're financing, Megaball$, is about beating the lottery, I've been giving much thought about lotto/lottery. Not just as part of the research needed for the screenplay, but for my own benefit. Hmmm...what if I could beat the odds?

What are the odds?

176 million to one. To put that in clearer terms - your odds of being killed on the way of buying the lotto ticket are much greater than actually winning the jackpot.

The film story came to me years ago as I entered the subway and spotted that the MegaMillion lotto had reached $120 million. In a 15-minute subway ride the basic premise solidified...but as a short film. I made notes then put them away. Fast forward two years. My 90-year old mother had fallen and broke her hip. For the next nine months I was commuting between NY and Florida on a regular basis to look over her care, her life and her death. It was very difficult and depressing sitting in her condo at night without much more to do than watch reruns of Matlock. I opened my little travel computer and began to review those short film notes, and I escaped into the comic world of the film's story. By the way, the title MegaBall$ was made by combining the names of the two most popular lotto games, MegaMillions and PowerBall.

I had written screenplays before, but usually as a co-writer or adapting material from a play. This was my first purely solo effort. Original story and going solo. The timing was right. From some deep point in my psyche I knew I needed to laugh and I began typing. Character outlines. Dialogue grew into scenes, and the scenes fell into place. Within 10 days my first draft was complete. I needed some objective opinions and ran the script by a few friends who I knew would be critical. They thought is was really funny. Since then the script has been tweaked and edited. I find I work best when I walk away from a script for about a month and return fresh. The script now is very tight, filled with many more laughs while retaining at least 80% of what I originally wrote.

What are the odds?

We formed our production company, Megaballs Movie, LLC, in March of 2012 and created the investor offering. We got our first investor, and talking with others. I continue buying a small number of lotto tickets each week. Hey, you never know! But, should I win and use those proceeds to make the film we'd have a powerful publicity angle to promote the film.

Common sense tells one the best way to beat the lotto is simply not play it.

Here's my twisted idea.

When I buy the ticket I place a second bet with the guy behind the counter. I bet him $1 dollar per ticket/game that I will lose - that not one of my numbers will come out. If he takes the bet, and I win then I broke even. If he takes the bet I should be smart enough to not buy a ticket because it won't have one number, but taking the bet would allow me to win the same money I play, so no loss. If he refuses the bet then the he knows he's going to lose because I'll have a winning ticket. The best part is, the only way I lose is when I don't buy the ticket.


Any takers?

MegaBall$ - you never know when your number's up.


Twitter @ Oroloro

Thursday, January 3, 2013

Good News!

It was announced today in The Hollywood Reporter and Daily Variety ... that the federal film tax incentive, known as Sect 181 (of the 2004 JOBS Creation Act) has been renewed, and is retroactive to Jan. 1 2012. Essentially the incentive allows for investors to deduct their investment in a qualified film, and under the provisions MegaBall$ is a fully qualified production. You may read a simple explanation of how the incentive works by clicking HERE.

Please note, it is advisable that any individual consult with their tax advisor to see if/what the benefit may actually be for that individual.

We are also looking forward to changes in SEC Rules, as part of the 2012 JOBS Creation act, which will also be advantageous to our efforts. These language changes are expected to be released this month.