The Gong Calcutta
We're back hosting this hot event in 2024!
the gong calcutta
This Calcutta is for the The Gong 2024 horse race, which will be held on Saturday 23rd November 2024.
This event takes place the Friday night before the race, on Friday 22nd November 2024.
how a calcutta works
A Calcutta consists of two main parts;
- Selling/drawing of raffle tickets
- Auction of each horse in the selected race
How to register
Individuals are kindly asked to register ahead of time so that we can gauge interest, estimate attendance for the night, and ensure we have the appropriate staffing and room setup.
Register: http://tix.yt/the-gong-calcutta
Tickets are free.
RAFFLE
SELLING
- Each Calcutta ticket sold starts the pool for the Calcutta auction. The more that are sold, the greater the starting prize pool
- Tickets are sold for $5 each. They can be purchased by anyone, with no limit on the number of tickets each person can buy
- All funds raised in the selling of raffle tickets go into the Calcutta Pool
- Raffle ticket selling is conducted prior to the event from Reception and also in the first part of the event night
DRAWING
- Once the selling has closed, the raffle begins
- A winning ticket is drawn for EACH HORSE in the race
- The winning ticket holder then ‘owns’ that horse for the auction. They will win 50% of the amount that horse sells for in the Calcutta Auction. The finishing position of the horse in the race is irrelevant to the outcome of the winning ticket holder for each horse
AUCTION
- Once all horses in the field have been ‘drawn’ as per above, the auction can begin
- Each horse in the race is auctioned and punters can ‘buy’ that horse in the Calcutta. The highest bidder in the auction stage becomes the new owner of that horse. Successful bidders must pay for their horses on the night – Cash and EFTPOS/Credit Card facilities will be available
- All EFT payments will be processed in the week following the race
- After a given horse has been auctioned, 50% of the auction amount goes towards the final Calcutta pool and 50% of the funds go to the person who drew that horse in the raffle
- As an example, if Horse #1 sells for $100 at the auction, $50 will go into the pool and the person who drew that horse in the raffle will also receive $50
AFTER THE RACE
- After the running of The Gong on November 23rd, 2024, the prize pool (consisting of all ticket sales plus fifty per cent of auction proceeds) is divided as follows:
- 60% to the owner of the winning horse;
- 20% to the owner of the second placegetter; and
- 10% to the owner of the third placegetter
- 10% will be donated to a local charity or person in need
Please note: On any horses scratched after the Auction, 50% of the Bidding price will be refunded, not a full refund
