Calcutta betting

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Joined Apr 21, A Calcutta, or "auction pool" is an event held in conjunction with a golf tournament, horse race, or similar contest with multiple entrants. Participants in the Calcutta bid among themselves to "buy" each of the contestants, each contestant being assigned to the highest bidder. The bids are pooled, and after the contest the pool is divided among those players who won the winning contestants at auction, divided according to proportions agreed upon in advance often in the same proportions as the prize money awarded in the event itself.

This is similar to pari-mutuel betting, in that the winnings are awarded from the total pool of bets, but differs in that only one player can bet on any one contestant. We have a race coming up where parents are going to be racing their kids jr.

How could we apply calcutta style to this? We need set dollar amounts to keep it as simple as possible. Say there were 10 entrants bought. Am I on the right track and how much would the winners receive? Dan Murphy We are family. Joined Apr 20, Don't know, Rhonda, but can give a buddy a bump. You must log in or register to reply here. In a charity even that pays the complete pool to the charity, the winning teams typically receive prizes that have been donated, supplied by sponsored companies, or the golf club.

A good strategy to maximize your payout is to pay less for a team that is not likely to win if the payout goes to multiple teams but a bad strategy when only one team is getting paid out. Investigate their handicaps to determine whether they have a steady history or if there are sudden spikes or drops around competition time. It would furthermore be advisable to investigate their performance during tournaments to see if there is any manipulation of their handicaps.

Doing the investigation will assist you when deciding on the player or team to acquire at the auction. Calcutta in golf has nothing to do with your golfing ability and rates high on the betting scale. Anyone with a good eye for talented golfers and has done some homework on the golfers involved, stand a chance of winning.

Due to the amounts of money wagered, the system is in a way open to manipulation. This is a clever way of raising money for charity though and you could experiment with this on your next golf day. Amateur players are not allowed to compete for prizemoney under the rules of the USGA, but they are allowed to partake in gambling.

This blurs the lines for the USGA whether the golfers are playing for prize money or whether the golfers are gambling. If it is important for you to retain your amateur status for whatever reason, it would be prudent for you to stay clear from any Calcutta in golf. Bidding is not restricted to the players and each player or team is generally offered the right to purchase a percentage of the bet from the successful bidder before play commences.

An auction sweepstake or Calcutta can often involve considerable sums of money and such gambling or wagering is considered contrary to the purpose and intent of the Rules. Participating in a Calcutta can be an enjoyable and profitable experience in a sport that steers away from paying amateurs any prize money.

Research the parties involved before you put any money into the auction and stay away from unsavory characters that may be involved. Lastly, if your amateur status is important to you, stay well clear of a Calcutta, or you may find yourself categorized as a professional golfer. I hope you enjoyed and found this article informative when you are offered an opportunity to get involved with a Calcutta at your next golf fundraising opportunity.

Nick Lomas is the founder of GolfSpan, an avid golfer, not quite a pro but has over years of experience playing and coaching golfers from all over the world. His mission is to bring the golfing community a better experience then it comes to choosing the right golf gear, and finding the right set up for your game.

GolfSpan is a blog run by golf enthusiasts, dedicated to bringing you the very best from the golfing community. From gear and equipment reviews to featured courses, WITB interviews, and the latest tournament updates.

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This gives a distinct advantage to the horse owner, or gives them something to fall back on if they are unsuccessful. In the unlikely event that a horse garners no votes, the person who won the horse in the initial draw will take that runner into the Cup. If you are running a tight ship you will want to collect the funds on the night. The Melbourne Cup field will be finalised on Saturday, November 2, when the barrier draw will take place. Your Calcutta after the Melbourne Cup is run and won The nation has stopped, the race has been run and it is time to divvy up the winnings.

How you decide to do this is entirely up to you, but a typical Calcutta payout works like so:. There are no rules as to how you decide who takes a prize home, so you can be as creative as you want. Just make sure your competitors are aware of the rules before they enter the Calcutta. This is the most important part. Once all the hard work is done, just sit back and enjoy the race.

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For a better experience, please enable JavaScript in your browser before proceeding. Calcutta betting - can anyone explain it for me? Thread starter RhondaS Start date Oct 12, Joined Apr 21, A Calcutta, or "auction pool" is an event held in conjunction with a golf tournament, horse race, or similar contest with multiple entrants. Participants in the Calcutta bid among themselves to "buy" each of the contestants, each contestant being assigned to the highest bidder.

The bids are pooled, and after the contest the pool is divided among those players who won the winning contestants at auction, divided according to proportions agreed upon in advance often in the same proportions as the prize money awarded in the event itself. This is similar to pari-mutuel betting, in that the winnings are awarded from the total pool of bets, but differs in that only one player can bet on any one contestant.

We have a race coming up where parents are going to be racing their kids jr. How could we apply calcutta style to this? We need set dollar amounts to keep it as simple as possible. Say there were 10 entrants bought. Am I on the right track and how much would the winners receive?