The ULTIMATE NFL Calcutta
Posted: Sun Aug 07, 2016 3:42 pm
It's back, folks! We ran a Calcutta auction during the NCAA Tournament, it was fun, although it was the most fun for Scott Eiland, but I think most folks enjoyed it.
Well............we had some folks ask about doing an NFL one, so I decided to offer it. In short, a Calcutta is a fluctuating-prize pool auction that allows you as a bidder to "own" an NFL (in this case) team or teams, and then you get paid out at the end of the season based on how they do. Simple as that. It's not Fantasy football, you don't have to set a lineup or anything, you just bid, win, and wait on the season to finish.
But we are going to have some special rules for the NFL, and ways to make it fun for players of all different SIM Bankrolls. The NFL Calcutta will have 2 parts:
PART 1: The Raffle..................this part is a cool change from our NCAA Pool. You buy raffle tickets (as many as you want) to win "interim ownership" of a team. What does that mean? It means this --- tickets are going to be S$1,000 each, and we will cap it at 1,000 tickets, meaning a maximum of a million in the raffle. Then, random.org will draw tickets for us to decide who gets each team. If you "win" the Vikings, for example, you own them UNTIL the auction (more on that in a minute). IF you don't want to be in the auction but would still like to participate in this stage, you're welcomed to do so.
PART 2: The Auction.............sometime after the raffle we will auction off every team, and every team will (should) have a pre-determined interim owner. Auction bids will Start @ S$10,000 and go up in 5K increments until a team is sold. Let's say the Dolphins sell for S$100K. Their interim owner (from the raffle) gets half of that, and the other half goes to the pot. So you could make a lot just from collecting your "winnings" on teams you won in the raffle! If you want to buy a team that you already got from the raffle, then you just pay half-price for it, rather than paying yourself the 50%. So there are a couple of benefits to doing well in the raffle.
Once every team is sold, we will have a prize pool number (just like we did back in March), and payouts will be:
(4) teams that LOSE in the Wild Card round of the playoffs will receive 2.5% of the prize pool each.
(4) teams that LOSE in the Divisional round of the playoffs will receive 5% of the prize pool each.
(2) teams that LOSE in the Conference Championships will receive 7.5% of the prize pool each
(1) team that LOSES the Superbowl will receive 15% of the prize pool.
(1) team that WINS the Superbowl will receive 35% of the prize pool.
The remaining 5% is an administrative fee for whoever acts as our treasurer/bookkeeper.
If you want in on EITHER Part of this, or both, let me know here. Right now my goal is to do the raffle sometime during SIM Week 1, and the Auction about 10 days later.
Well............we had some folks ask about doing an NFL one, so I decided to offer it. In short, a Calcutta is a fluctuating-prize pool auction that allows you as a bidder to "own" an NFL (in this case) team or teams, and then you get paid out at the end of the season based on how they do. Simple as that. It's not Fantasy football, you don't have to set a lineup or anything, you just bid, win, and wait on the season to finish.
But we are going to have some special rules for the NFL, and ways to make it fun for players of all different SIM Bankrolls. The NFL Calcutta will have 2 parts:
PART 1: The Raffle..................this part is a cool change from our NCAA Pool. You buy raffle tickets (as many as you want) to win "interim ownership" of a team. What does that mean? It means this --- tickets are going to be S$1,000 each, and we will cap it at 1,000 tickets, meaning a maximum of a million in the raffle. Then, random.org will draw tickets for us to decide who gets each team. If you "win" the Vikings, for example, you own them UNTIL the auction (more on that in a minute). IF you don't want to be in the auction but would still like to participate in this stage, you're welcomed to do so.
PART 2: The Auction.............sometime after the raffle we will auction off every team, and every team will (should) have a pre-determined interim owner. Auction bids will Start @ S$10,000 and go up in 5K increments until a team is sold. Let's say the Dolphins sell for S$100K. Their interim owner (from the raffle) gets half of that, and the other half goes to the pot. So you could make a lot just from collecting your "winnings" on teams you won in the raffle! If you want to buy a team that you already got from the raffle, then you just pay half-price for it, rather than paying yourself the 50%. So there are a couple of benefits to doing well in the raffle.
Once every team is sold, we will have a prize pool number (just like we did back in March), and payouts will be:
(4) teams that LOSE in the Wild Card round of the playoffs will receive 2.5% of the prize pool each.
(4) teams that LOSE in the Divisional round of the playoffs will receive 5% of the prize pool each.
(2) teams that LOSE in the Conference Championships will receive 7.5% of the prize pool each
(1) team that LOSES the Superbowl will receive 15% of the prize pool.
(1) team that WINS the Superbowl will receive 35% of the prize pool.
The remaining 5% is an administrative fee for whoever acts as our treasurer/bookkeeper.
If you want in on EITHER Part of this, or both, let me know here. Right now my goal is to do the raffle sometime during SIM Week 1, and the Auction about 10 days later.