Party: Melbourne Cup Calcutta

Party: Melbourne Cup Calcutta

MELBOURNE CUP CALCUTTA

Hosted in the Lounge.

Tickets on sale in Sports Bar & Main Reception
- Open to members & guests
- No limit on the amount of tickets each person purchases
- Barrels to be placed in Sports Bar AND Main Reception
- Peach coloured raffle tickets

How does it work?
Raffle tickets costing $5 each are sold, conculding on Calcutta afternoon Sunday 5th November. The ticket sales create a pool of money called a "Starting Pool"

On the Calcutta afternoon, 24 of the tickets sold over the previous weeks are drawn out for the respective 24 Melbourne Cup horses. Those lucky enoughto have drawn a horse are the "Horse Owners"

At this point, horses will be auctioned in descending order of longest odds to favourites, anyone can bid on any horse during the auction.

If the original "Horse Owner" would like to keep their horse, they hust have the highest bid. However, the owner only has to pay half the amount that he or she has successfully bid. This amount is added to the starting pool.

If the successful bidder is not the original horse owner, they must pay the full amount of the bid. 50% of the price paid is added to the starting pool, with the other 50% going to the original horse owner. The successful bidder is now the horse owner.

The prize pool money is therefore made up of the original pool ticket sales, divided up as follows:
Ist - 60%
2ns 0 30%
3rd - 10%

Please note: there will be no money returned for late scratchings.

Get your tickets from now until the 5th at our Sports Bar, or from Main Reception. Good Luck!