How Calcutta Auctions Work

What is a Calcutta Auction?

A Calcutta auction is an exciting format often used for tournaments or competitive events (like golf tournaments, horse races, or sports brackets). Participants bid auction-style on the competitors or teams they think will perform well.

All the money raised from the auction bids forms a prize pool. After the event concludes, this pool is distributed among the participants who "own" the winning competitors/teams, according to pre-defined payout rules. It adds a strategic layer of competition and engagement to following the main event.

How This Platform Streamlines Your Calcutta

This application provides a digital platform to manage and participate in Calcutta auctions seamlessly:

• Auction Creation & Setup: Auction administrators can easily create a new event, define the auction name, set the budget per participant, and choose the payout structure (e.g., standard "House Rules" or customizable "Classic Rules"). The platform can integrate with data sources (like DataGolf for golf tournaments) to automatically populate the list of competitors and relevant odds/stats, or allow manual entry.
• Easy Joining: Participants can quickly join a specific auction using a unique, shareable code provided by the administrator. Once joined, they can set their unique team name.
• Interactive Live Auction Room: When the auction goes live, participants enter a real-time bidding environment featuring:
  • Display of the competitor currently up for nomination.
  • Real-time bidding actions within budget constraints.
  • Tracking of the current high bid and leading bidder.
  • An auction timer to keep the pace.
  • A live log detailing bidding history and awarded competitors.
  • Visibility into remaining competitors and those assigned to "The Field" (if applicable).
  • Personal roster and budget tracking.
  • Overview of other participants' rosters and budgets.
• "The Field" Management: For events where it applies, competitors who are not bid on or are skipped can be grouped into "The Field". This group can then be nominated and bid on as a single entity.
• Post-Auction Dashboard & Live Event Tracking: After the bidding concludes, the platform transitions to a dashboard view where participants can:
  • Review their final roster and all other team rosters.
  • Track live event scores and results (requires integration with a relevant live data feed).
  • View a real-time event leaderboard showing competitor rankings and their drafting team.
  • See projected winners and potential payouts based on live results and the auction's rules.
• Automated Payout Calculation: Once the underlying event is officially final, the platform uses the results and the auction’s payout rules to automatically calculate and display the final winnings for each participant.

Our aim is to modernize the Calcutta auction experience, handling the complex logistics so you can focus on the strategy, excitement, and camaraderie of the event.