I know of no Calcuttas that don't allow the player the option of buying half back if they do it before the tournament starts, whether they can afford it is another story. Around here they'd usually get thrown a bone but it's not a rule. I'd feel real nervous spending big money on someone and then telling them they can't get any of the Calcutta. Piss um off and they may throw the game, or work a deal with opponents or just leave, all of which are no good for the guy spending the money
Often the player being able to buy half of themselves was an unwritten rule and if the Calcutta winner didn't want to sell to the player it was tough crap. The venue or promoter wouldn't back up the player as likely as not. Of course then you have players that can get pissed and either throw away their entry fee or carefully place second tier since the Calcutta usually pays half as many places as the tourney does.
All of the noses out of joint are one more reason for not having Calcuttas. Players feel no obligation to Calcutta buyers, buyers that find themselves out thousands because a player doesn't feel like battling the one loss side or just was too hungover to play can get ugly. Smaller events and Calcuttas usually aren't as big a problem as big events.
The Calcutta is an event in itself and when you see forty thousand dollar plus Calcuttas they have usually milked bids on some players for fifteen minutes or more. Calcuttas lasting six, eight hours, even longer, are another beef of mine when they say event starts immediately after Calcutta. After you learn an event or a Calcutta auctioneer you can be a little better prepared, still I came to compete in an event, not watch an auction. As I got older and gimpier I felt more and more of my event slide away while standing around waiting on the Calcutta to end.
I am out of touch the last five years or more, other than second hand information. Perhaps things have changed or possibly people haven't gotten as carried away with Calcuttas other places. A big event in South Louisiana can have a full day of Calcutta auction.
I prefer a cash option for those that want to play for more money. It is decided beforehand what the buy-in will be, maybe fifty or a hundred bones. Now when a person is signing in they are asked if they want in the cash option. Maybe a minute taken up getting the cash and writing down a name. Few or no outsiders, the players generally own themselves.
Three to six Calcutta buyers never seen around a pool hall otherwise can buy all of the cream off of the top, one person or combine buying maybe a couple top players and a couple second tier players as a longshot although some of these usually find their way into the money.
Hu