Calcutta???
- Thread starter kokopuffs
- Start date
It is an auctioning of the remaining players. You "buy" a player you think will win. If he/she does, you get the pool collected in the Calcutta.
I believe it is usually done the night before a tourney. Each player in the tournament has a minimum bid on their head for if they are going to finish in the top 3 or 4 of the tourney. Everyone can bid on each player until the bidding stops and the high person puts the money into the pot. If his player comes in the top spots the bidder usually gets a percentage of the money in the pot. Basically just side bets. But you don't want to bid too high cause your return might be smaller than the bid. Usually the best players/favorites get bid on a lot and a long shot still might sneak in with a $5 buy make someone $200.
Ringgold
Just outside Chattanooga, TN
Just outside Chattanooga, TN
mike phelps
Registered
DoomCue said:
only illegal if the house takes a cut, same as poker
mike phelps said:
Unfortunately, it's illegal either way here in AZ now. It used to be only illegal if the house took a cut, but the law has changed here, and now there are no more calcuttas. It's a shame because the tournaments had bigger fields and, of course, bigger pay outs (including the calcutta money) when they were still allowed. They have a calcutta in Reno now, but the one in December was pretty weak. I'm blaming the economy. People don't have money to go around buying pool players!
mike phelps
Registered
kokopuffs said:
gambling is legal, the problem is not reporting your winnings to the "man" (IRS)
actually booking is legal if you buy the federal stamp for $500, but the state won't be far behind you for not filing if you live in a state with income tax.
the law has gotten more forgiving in our area since the river boats arrived.
sorry to ramble on but yes gambling is legal between individuals just the house can't get a peice of it.
mike phelps
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kokopuffs said:
I grew up gambling with the cheif of police in our town in the local pool room.
mike phelps
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kokopuffs said:
no phones thats a different story
kokopuffs said:
Yes, depends on the state. You cannot use this post as legal advice or rely on it. But colorado's gambling statute allows (Or at least used to allow) gambling among people with a bona fide social relationship if the house didn't take a cut. So a poker game in your house was basically OK. Gambing at pool with a guy you knew was OK. Operating a sports book wasn't. Problems arose when people tried to open some rooms using some kind of club as a cover. One poker room used to advertise in a weekly paper. Those are problems. But again, talk to a lawyer there, don't rely on internet advice, insert omnibus disclaimer here, etc....
kokopuffs said:
It does depend on the state. Here in the Heart of Dixie (Alabama) gambling on a pool game is illegal. Also, say you and I are playing one pocket for 20 a game, and say we are playing at Jim-Bo's pool hall and ole Jim-Bo knows we are gambling and allows it go on - guess what, yep, he can be arrested too, for allowing it to take place in his establishment.
Mike,
Are you referring to Kentucky when you say gambling is legal as long as the house doesn't get a cut? Isn't the question of whether gambling is legal or not contingent on the state you're in? Of course, as long as you don't get caught, just about anything is legal, right?
Are you referring to Kentucky when you say gambling is legal as long as the house doesn't get a cut? Isn't the question of whether gambling is legal or not contingent on the state you're in? Of course, as long as you don't get caught, just about anything is legal, right?
mike phelps
Registered
8-ballcash said:Rick,
All this legal discourse. Leave me tell you the real beauty of the Calcutta is this. Your on your way to the Great Entertainer on Bryant Street for tournament nite. You miss the men's Calcutta, I was late.
But the women's division is just starting up. I buy a pretty red head for $350. I think her name was Helen not sure. The tournament ends and director taps me on the shoulder hands me a drink an envelope with $960 in it.
The Calcutta only pays on the top 3 or 4 players in the tournament so a good Calcutta adds quite a bit to the players prize fund too. In my case I don't remember as I didn't write down all the bids like I normally do. I gave the lady half the money. She finished second and had $1350 the second place prize money. Calcutta's aren't gambling, they are great fun.
8-ballcash
i was refering to kentucky and please don't take this as legal advise, but "CALCUTTA" is posted on tournament advertising in Pool, Golf, ect. everywhere in kentucky, if it was illegal it might as well read "WE WILL BE SELLING POT AND HAVING THE CALCUTTA AT 8:00 PM" thanks and please check your state laws before gambling or having calcutta's