By Mike VanZandt
A Calcutta is a form of gambling observed most often locally in charity golf tournaments. Bettors bid on the 4-man teams competing in the tournament. The highest bidder is said to have bought a team in the Calcutta. Every team is auctioned and the money collected is called the Calcutta Pool. If his team wins the golf tournament, the bettor wins the Calcutta Pool. Each player on a team has the option to buy a 1/8th share of the money paid for his team by paying the person who bought his team 1/8th of the purchase price prior to teeing off in the tournament. For example, Big Bucks buys your team in the auction for $1000.00. You pay Big Bucks $125 before you tee off. Your Team wins. Say that Big Bucks wins $10,000.00 in the Calcutta Pool. Big Bucks pays you $1250.00 or 1/8th of his winnings. If everyone on your team bought their 1/8th share, Big Bucks would win $5000.00 and the 4 man team would split $5000.00.
Most Calcutta’s pay three places, a 50/30/20 split is not uncommon. The Calcutta Pool is usually cut by the sponsor of the event to raise money for whatever the tournament benefits, call it the “juice” if you will. Anyone can participate in the Calcutta which is almost always held the night before the tournament at a local watering hole.
This is not a solicitation or endorsement of gambling in any form. Some types of gambling are illegal in Texas. I would think that this is one of them.
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