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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.
When paying out the first three places, the most common payouts are percent to the winner, percent to the runner-up, percent to third place. And in a 5-place payout, the payouts might be divvied up as The specifics are up to tournament organizers. Among other variations is one that allows a golfer to buy back half of himself or his team from the winning bidder.
For example, your team is "won" in the auction by Team X; if this rule is in effect, you can pay half of Team X's winning bid back to Team X in order to buy back half a stake in your own team. If your team then wins the tournament, your team and Team X split the Calcutta payout. Calcutta auctions are also encountered by golfers at tournaments as fundraisers for charities.
If a golf tournament is being run to raise money for charity , the organizers might include a Calcutta auction to raise additional money. In such a case, the money bid in the auction might all go to charity, in which case the winner would most likely receive a donated prize as opposed to a payout from the auction pot. Before the event, a formal auction-pool wagering event is held where each player or team can bid on one at a time. Typically, this auction is done with cash, so make sure to hit the ATM before heading to the auction which usually happens the night before the event.
In terms of the bidding process, you can purchase one or as many teams as you want. The more teams you bid on, the more action you have on the event. Plus, spreading your money across multiple teams also makes it a more diverse plan; similar to having different stocks and bonds in your portfolio.
Also, some tournaments will use golf software to apply odds to each team and determine win-show-place amounts. Once all teams are bid on and the auction is complete, the total pot is determined by the tournament director. A fun piece of Calcutta golf events is that you can buy back some or all of your own team. The tournament itself is the one part of the Calcutta that is simple and straightforward.
The format is normally an hole stroke play event but can work with many different types of golf games. Usually, the golf courses play challenging but fair so that it is a fun event for everyone. Typically, the event usually done as individuals or as two man teams over the course of days. This format is pretty typical for member-guest and member-member tournaments but can work with any type of golf outing.
The final step to running a Calcutta golf tourney is tallying up the results and getting the prize money paid out. Once the event is over, the pot is distributed to the top three teams. As you can tell, there is a big difference between first and second which makes it that much more fun to be a part of these types of golf tournaments.
If you have more questions about running a Calcutta golf tournament, hopefully these FAQs will help you learn everything you need to know. Yes, a Calcutta is legal and the betting style goes beyond just golf into other sporting events. This format is also done in other sports like bowling, horse racing, NCAA basketball, and billiards as well. Running a Calcutta in golf is a little bit more complicated than running your average scramble event but it can be done.
Next up is deciding the format individuals vs. Some may even be played in a Stableford Format. Then, the auction so people can start bidding on individual players or teams. This is the most challenging part of the entire event as you will need to set a date and time for people to show up and start bidding. The reason is that you can win more than the allotted amount and would have to declare yourself a professional, which would void you from entering amateur only events as you would lose your status.
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.
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