https://www.lionsclubschi.org.au/wp-content/uploads/2015/10/calcutta-cash.jpg 303 400 Dave https://lionsclubschi.org.au/wp-content/uploads/2016/02/lions-club-header-logo-left-340-156.png Dave2015-10-02 20:45:412016-02-06 21:28:20How a Calcutta Works
Charity Fundraising Evening, Melbourne Cup Calcutta Monday 2nd Nov 2015
The Lions Club of Sanctuary Cove Hope Island will be running a Calcutta on Monday night 2nd November at Hope Island Tavern, Hope Island Road, Hope Island 6pm Registration, Draw starts at 6.30pm in the Sports Bar.
Fundraiser for Camp Quality Helping Kids with Cancer
Lots of fun, prizes & cash prizes to be paid out.
- The Calcutta is held on the Monday evening before the Melbourne Cup.
- Calcutta Raffle Tickets can be pre-sold so that people have the chance of drawing a horse and becoming a temporary owner. You do not have to attend the Calcutta to be a temporary owner, just purchase your tickets. Calcutta tickets can be purchased from a member of the Lions Club before or on the evening of the drawer commencing. Calcutta Raffle Tickets are just $2 each, 10% goes to the Charity Pool
- On the evening, all the Calcutta Raffle Tickets purchased are put in a barrel and the Melbourne Cup Horses in another barrel. If your name is drawn out you become the temporary owner of the horse that is drawn out of the other barrel at the same time.
- All horses are then up for auction.
- The temporary owner will get half of what is bid for the horse, the remainder going into a prize pool (which also includes the money from the Calcutta Raffle Tickets sold). So if you drew a horse and it was auctioned for $100, you receive $50 as temporary owner. Of course, you can bid for your own horse knowing that you are only paying half the price!!
- The prize pool grows as the horses are auctioned off.
- After the last horse is auctioned, the prize pool & this year’s charity donation is worked out.
- 10% of the Prize Pool plus 10% of the initial Calcutta Raffle Tickets will be donated to Camp Quality, helping kids with Cancer.
- The remaining 90% is split & paid out as cash prizes to the “Owner” of each of the horses as follows: First Place, (65%) Second Place (20%), Third Place (10%) & Last Place (5%) at the Melbourne Cup Tuesday 3rd November 2015.
- Temporary owners (original purchasers of Calcutta Raffle Tickets who draw a horse) quickly realise that if they then bid in the auction for their own horse they are really only paying half the cost for the horse. Because 50% the horse auction price goes to the temporary owners. A great way to buy a horse in the Melbourne Cup!
Good Luck – Always a WIN for Kids with Cancer!