Calcuttas are a bit of a sore point with me. They are promoted to bring in outside money but those outside gamblers are people that come in recognizing the odds are better than most they can get. The outside money comes in with the cash to buy the top players and if it isn't announced as part of the rules they don't always sell half to the player. There have been stinks at events where the player thought they were in for half and the buyer didn't. If I was a player and wanted half I would settle it fast! Regardless, outside buyers, not pool players, are likely to haul off most of those huge Calcutta wins we see advertised. The money is real but it seldom goes to the player who wins.
One catch, often even top players can't buy half of themselves when that runs into thousands so they either have to split with another backer, a corporation, or if they aren't well known locally they may not be able to raise the cash to buy half then they are at the mercy of the Calcutta buyer for jelly. Ten to fifteen percent is pretty standard, maybe twenty if the player is lucky, but Calcutta buyers may be feeling stingy. They often buy several players so their winnings this event aren't as nice as they look at first glance.
The player is hoping for a nice percentage of gross, the Calcutta buyer may be passing out jelly on their net including other buys in the event. Worse, they may be covering losses from earlier Calcuttas that year or even other losses. Easy for a gambler to be ahead in the tournament but out tens of thousands other places and he is looking at his entire wins and losses, not just on this Calcutta or Calcuttas alone. $100,000 and more yearly swings on gambling winnings aren't that uncommon in some circles in the oil patch. Unfortunately pool rarely sees that kind of money.
Hu