How a Golf Calcutta Works

The Basics

Before the event, every player or team in the field is auctioned one at a time. The highest bidder owns that player or team. All the winning bids together make the pot. When the tournament ends, the pot is paid to the owners of the top finishers by a split agreed in advance.

A typical split pays the owner of the winner the largest share, then smaller shares down to third or fourth place. A 70/20/10 split for the top three is common in a small field.

Why Prices Vary So Much

A favourite might go for several times the price of an outsider. The skill of a Calcutta is buying value: an outsider bought cheaply can pay off well if they go deep. That is what makes the auction fun to watch, even for people who don't bid.

Buy-Backs

Many Calcuttas let a player buy back part of themselves from the owner, often up to half, at the price the owner paid. A player who believes in their own game gets a stake in the result, and the owner shares the risk. Agree the buy-back share before the auction.

Live Auction, Sealed Bids or Pari-Mutuel

There are three common ways to run the bidding:

theStick runs all three on a Bracket or Ryder Cup tournament. In its live auction, each bidder sets a private maximum, and the price stays one raise above the runner-up, so nobody has to be at the table to bid well. You set a minimum bid, the raise size and the buy-back share.

House Rules to Settle First

Write these down before the bidding starts:

Is It Legal?

A Calcutta is a wagering pool. The rules vary by state and by club, so check what is allowed where you play before you run one.

Who Holds the Money

The organizer collects the bids and pays the owners. theStick doesn't hold or move any money: it records the bids, ownership and payouts, and everyone settles directly with each other.