More in golf than pool, for me, but I’ve been in Calcuttas where you were expected to buy half of yourself. If you didn’t, you were queering the whole deal. It was more than just frowned upon.
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In our weekly 9-ball calcuttas or our occasional bigger tournament calcuttas, the winning bidder generally is aware of and accepts that there are no guarantees of anything. The reality is that player (regardless of whether he buys back half himself or not) has absolutely no moral obligation to play their hardest to win for their buyer, even though ethically most of us would agree that they should.
The player may choose not to purchase half of themselves back and may choose at their own discretion to concede games or matches at any point, etc. Buyer beware - that’s just the chance someone takes when they choose to bid on and potentially purchase them.
For that reason, those players that have a reputation of having previously done that may often be purchased at what might seem to be a bargain price in relation to their skill level. Smart bidders are aware of not only the skill level of all the players they may bid on, but also that player’s integrity.