How the Calcutta works
- A Max 4,000 tickets are sold and each ticket is placed in the draw.
- For each of the 24 horses in the Melbourne Cup a ticket is drawn and each ticket holder becomes the provisional owner of that horse.
- Then each of the 24 horses are auctioned, with the Auction Winner being the highest bidder.
- The Provisional Owner needs to be the Auction Winner to become the Final Owner of the horse, but the Provisional Owner will only pay 50% of the Auction Price (this 50% is added to the Guaranteed $9,000 prize pool)
- If the Provisional Owner is not the Auction Winner they will receive 50% of the Auction Price and the Auction Winner becomes the Final Owner of the horse (the remaining 50% of the Auction Price is added to the prize pool)
- The Melbourne Cup is run and Prize Pool is distributed as follows:
- 60% to the Final Owner of the winning horse.
- 25% to the Final Owner of the 2nd placed horse
- 10% to the Final Owner of the 3rd placed hors
- 5% to the Final Owner of the last place horse
Sunday 4th November 2018 – Doors open 2pm
@ Thirroul Bowling Club
Tickets available at the Bowlo. See the back of the tickets for full Calcutta Rules and Conditions of Entry.