Party: Croydon Ranger's NFL Calcutta

Party: Croydon Ranger's NFL Calcutta

Ever fancy owning an NFL Team? Think you know who will win Superbowl LI? Then the Croydon Rangers NFL Calcutta is for you!

*** Due to VCGLR requirements, all participants in the Calcutta must be Croydon Rangers Members, and over 18 years of age ***

What is a Calcutta?

A Calcutta is a 2 stage process in which participants bid money to "own" and NFL team, with monetary rewards based on the teams performance throughout the 2016-17 NFL season.

Stage 1 -
A raffle is conducted to determine the "interim owner" of each of the 32 NFL teams. Raffle tickets will be available in the lead up to the event, and early on the evening of the event. Raffle tickets will be capped at 1000 tickets, and are valued at $1 each. The more tickets you buy, the more chance you will be an interim team own.

All money from the raffle tickets go into the prize pool. If 1000 tickets are sold, the pool will start at $1000.

Stage 2 -
Following the raffle, all 32 NFL teams are then auctioned to the highest bidder for each team. You may still bid at auction to buy a team that you are interim owner of, if you wish to keep the team.

50% of the auction price for each team will go to the "interim owner" (their prize for being drawn out in the raffle) and the other 50% goes into the prize pool, further increasing the available prize money.

If an interim owner is the high bidder for a team, they pay 50% of the amount bid directly into the prize pool, and receive nothing back (as the original owner); effectively getting the team for half price.

Prize Value and Split -
The total prize pool will fluctuate on the night, based on the number of tickets sold in the raffle, and the amount bid for each of the teams. As the bids get higher, the value of the prize pool grows.

(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.

Croydon Rangers Administration Fee - 5%
100% of total prize pool distributed.
That allows for a payout on 12 of the 32 NFL teams.

Other Details -
This event is free to attend; costs involved will be the price of raffle tickets and then bidding on teams.

You can enter into the raffle, and then not continue to participate in Stage 2 if you do not feel comfortable with the bidding process.

The Lone Ranger Bar will remain open following the day's home matches, and stay open all evening serving drinks until 11pm. A small amount of finger food available through the night; Why not grab a full dinner at our sponsors The Local Burger Co before heading down?

Stage 1 of the event, the raffle draw will take place from around 730pm.

Raffle tickets will be available from late July to purchase for Stage 1 of the event.

I would love to join in/have mates that would love this, but we're not members - supporter memberships can be purchased at any time through the Clubs shop for $15, allowing you to participate in the Calcutta:
https://www.revolutionise.com.au/croydonrangers/registration/

If you have any further questions, please do not be afraid to ask in the comments below, we will attempt to answer them for you.