Gentlemen, as we get ready for the first round of competition for the RED Jacket, I would like to announce that we will be having a Calcutta in conjunction with the finals of that competition. As you may remember, there will be three rounds of golf (best two of the three scores) with the top 12 (and ties) that will play for the RED jacket.
The Calcutta will be part of the final 12 competition. I have explained below how a Calcutta works .Once we know who the final 12 are (late September/early October) we will hold the auction and finalize the bidding prior to the final round. Meanwhile you may want to pay close attention to the three rounds that precede the final round to help inform your strategy.
I will be delivering “expert” comments after each round and providing “Mel’s” odds. For example , I will be noting who is hot and who is not, strong and weak parts of golfers game and much more. You will not want to miss this critical information.
The first tip is that it is VERY difficult to win the Red Jacket more than one time, so, odds of a repeat are slim. Sorry David Grant, Bobby Dibble, Bill Hall etc. You start off at 25-1 odds. Tip number two is that someone who has played in the MBI has a good chance to take it all, odds are 4-1 a Red jacket will hang in one of their closets.
HOW THIS CALCUTTA WORKS:
Each potential RED Jacket winner (12 guys) will be auctioned off to the highest bidder. The winning bidder then “owns” that Golfer for the tournament and in the event “his golfer” wins ( the Red Jacket)——the winning bidder receives the winner’s share of the purse. Golfers are allowed to buy themselves and in the event that they are out bid they can buy back from the winning bidder up to 1/2 the ownership in themselves. There is normally a minimum starting bid which in this case is $50.00 and bids will increase by minimums of $10.00. The total pot ( the sum of all of the bids for all of the 12 golfers) will be divided 70% to the winner and 30% to the second place finisher.
Example—each of the 12 golfers are bid on ( all 12 do not HAVE to be bid on) and the total bid is $1,200. The person who “owned the Red Jacket winner would win 70% of the $1,200 ($840) and the 2nd place owner would get $360.