Yes, that means someone could conduct a Calcutta auction on a spelling bee or a game of backgammon if they were motivated enough. Despite being predominantly centered around sports, Calcutta auctions are structurally similar to the auctions companies like Sotheby’s and Christie’s conduct. While commonly applied to March Madness, Calcutta auctions can theoretically be adapted to a tournament of any type, including horse races, golf tournaments, or tennis tournaments, essentially any iteration of a single-elimination contest imaginable. Origins and Fundamentals of Calcutta AuctionsĪ Calcutta auction is an open auction held jointly with any single-elimination tournament or competition with multiple entrants. Think of a Calcutta action as a traditional March Madness bracket with a brainy spin, where participants’ considerations aren’t only picking winners, but also balancing the myriad complexities of the free market. For those looking to take their March Madness betting to a whole new level, there’s an increasingly popular alternative to the familiar routine of filling out an NCAA bracket every March: the Calcutta auction.Īs you’ll learn, the structure of a Calcutta auction forces participants to blend the skills from many different domains they aren’t nearly as simple as filling out a bracket or even laying down a wager at a sportsbook.
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