How does a Calcutta Work?
We’re excited to announce the XXXX Gold Inverell Cup Calcutta Night will be held at Inverell Sporties on Thursday 31st December from 6pm, entry is free and everyone’s invited.The Inverell Jockey Club Committee will be selling tickets at Inverell Sporties from 6:00pm. Tickets are just $5 each.
Come down and be entertained. Racebooks with the horse form will be available on the night.Around 7:30pm Inverell’s legendary race caller Greg Kachel kicks off with a traditional phantom call of the Inverell Cup and interviews with local and visiting trainers. Then it’s time for the Ticket Draw.
If your ticket is selected from the barrel your name will be listed next to a horse and you will be known as the “Drawer”. Once all horses have been drawn it’s then over to Inverell’s exciting auctioneers – Brian Baldwin to commence the bidding process for all horses.
Brian will auction all horses starting at the top of the list in the order that horses were drawn.The Drawer of each horse can bid to retain the horse or let someone else buy it. If the Drawer sells the horse they get 50% of the price. If they buy it, they have to pay in 50% of the price. If someone else buys the horse they have to pay the full bid price.If the horse wins the Cup the buyer gets the winners share of the prize pool.
For every horse bought at auction 50% of the sale price of the horse goes to the “Drawer” and the remaining 50% goes into the prize pool. The pool is continually calculated and updated following the sale of a horse.Winning Bidders must pay for their horse immediately after the auction has finished – cash only accepted.
The Secretary will take a photo of your ID. This ensures the correct people are paid final prize money after the race has been run and correct weight given. After the race is run on Cup Day If your horse finishes in the Top 3 you will need to take this same ID and present to the Secretary’s Office to receive payment.
Prize Pool Breakdowns are as follows:
70% to the Buyers of the winning horse
20% to the Buyers of the winning horse
10% to the Buyers of the winning horse
$50 to the buyer of the last horse to finish. If you have never seen a Calcutta this is a fantastic opportunity, it’s free to come along and watch this exciting event. Get some friends together and form a syndicate.
Join us, Thursday 31st December 2020 for a fantastic night out at Inverell Sporties. Tickets on sale from 6:00pm