Bidding starts on each player in the tournament by other players and spectators. The highest bidder wins the player and pays their bid to the Calcutta. The players bid on also have the opportunity to purchase half of their own Calcutta by paying the winning bidder half of the bid. When all bidding completes, the tournament begins. Winning the Calcutta
The precise rules of a Calcutta auction can vary from place to place; many tournament organizers employ software programs that apply odds and determine win-place-show amounts. Perhaps the simplest and most common Calcutta payout is 70 percent of the pool to the "owner" of the winning tournament team, 30 percent to the "owner" of the second-place tournament team.
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7) The application to conduct a Calcutta must fully describe the method and rules to be followed in conducting the draws and the auction. 8) Officials must record in public view: • the names of the successful bidders at the auction and the amounts paid to the pool; • the progressive amount of the pool as each auction bid is finalized.
Get into the action at a tournament through the Calcutta. A friend of mine asked me to clarify exactly how a Calcutta works at a pool tournament. I have been to many Calcuttas and I witnessed a first just last weekend at Fargo Billiards. The full field player auction of 82 players gathered over $10,000 into the side
The calcutta is at the heart of the history of pool. In fact, the name "pool" probably comes from the widespread historical practice of "pooling" players' bets (like entry fees at a tournament). The most common form of this kind of gambling today is "parimutuel betting", like at the horse races, a kind of pool betting where the payout odds are calculated after betting is closed based on the amount bet on each horse.
What does Calcutta mean in pool? a form of betting pool for a competition or tournament, as golf or auto racing, in which gamblers bid for participating contestants in an auction, the proceeds from which are put into a pool for distribution, according to a prearranged scale of percentages, to those who selected winners.
First off there is usually a buy in amount to be included in the Calcutta pool. You often have to buy in by a Saturday time or sometimes before the auction starts Saturday afternoon or evening for the Sunday Handicap event. Only 1 buyer. But often buddies pool their money and split any winnings.
Oct 12, 2004. #1. 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 ...