CALCUTTA

Wiffle Ball Calcutta

 

Definition:

The term “Calcutta” describes a type of auction-pool wagering that can be applied to golf and many other sporting events. In golf, a Calcutta is most common at a tournament featuring 4-person teams, but a Calcutta can be held in conjunction with any type of golf/sporting tournament. In a Calcutta, people bid, auction style on the players or team who they think will win the tournament. All the money raised through the auction goes into the pool or pot. At the end of the tournament, those who purchased the team that wins the tournament get a pre-determined payout from the auction pool.

 

Why?

The objective of this calcutta is to raise funds for local charities while having some fun.

 

How?

Each team in the tournament will be drawn out of a hat and put up for auction. The opening bid for each team will be $10 with $5 incremental bids. Anyone (players, friends, neighbors) is allowed to bid on the teams but the opening bid of $10 for each team is reserved for the actual players on that team. If there are no bids beyond the opening bid then the players of that team are committed to the $10 bid. Once the bidding for a selected team reaches “market value” the auctioneer will announce “going once, going twice, sold”. The person with the highest/winning bid will pay the auctioneer and place the bid dollar amount into the “pool”. The person with the winning bid will be recorded as the “calcutta owner” of that particular team. The auction will end once all teams have been drawn and auctioned off.

 

What?

This Wiffle Ball Calcutta has a 50% payout. The “calcutta owner” of the team that wins the tournament is awarded 50% of the “pool” and the other 50% goes to charity. There are 20 teams in the 2013 tournament. As an example, if each team bought themselves, the pool would be $200 (20 x $10) and one would be donating $10 for a chance to win $100 (50% of pool). The bidding for some teams will be higher based upon what people believe that team’s chances are of winning the tournament. A “prediction” for the 2013 Wiffle Ball pool total is in the ballpark of ~$400 making the 50% payout ~$200.

 

When and Where?

The “calcutta auction” will take place on Thursday, June 12th at 219 Steuben Street (Bobo Ruocco Memorial Field) following the golf tournament. If you can’t be present Thursday and would like to bid then send someone in your place to bid. Please remember that anyone can bid/buy any team. In other words, just because you bought your own team, it does not prohibit you from buying another team. In fact, you may buy as many teams as you would like to purchase. Remember 50% of everything that goes into the pool goes to charity so keep that in mind and have some fun with the bidding.