Calcutta Betting: A Comprehensive Guide to the World's Oldest Betting Game

Introduction

Calcutta betting, also known as auction betting, is a unique and exciting form of betting that has been around for centuries. Originating in the bustling city of Kolkata (formerly Calcutta), India, this type of betting involves auctioning off shares of a horse or team in a race or competition.

How Calcutta Betting Works

Step 1: The Auction

• Before the race or competition, shares of each horse or team are auctioned off to bidders.
• The shares represent a percentage of the potential winnings from that horse or team.
• The auction is typically conducted by a bookmaker or auctioneer.

Step 2: The Race or Competition

• Once the auction is complete, the race or competition takes place.
• The winnings are determined based on the performance of the horse or team.

Step 3: Payouts

• After the race or competition, the winnings are distributed to the shareholders based on the percentage of shares they own.
• The amount of winnings each shareholder receives depends on the success of their horse or team.

The Allure of Calcutta Betting

Calcutta betting offers several advantages over traditional betting methods:

• Higher potential winnings: Since each share represents a percentage of the winnings, the potential for higher profits is greater than in traditional betting.
• Spread risk: By owning shares in multiple horses or teams, bettors can spread their risk and increase their chances of a payout.
• Social aspect: The auction process creates a social atmosphere where bettors can interact with each other and make new connections.

Tips for Successful Calcutta Betting

• Research: Thoroughly research the horses or teams involved in the race or competition. Consider their past performance, jockey experience, and track conditions.
• Set a budget: Determine how much you are willing to spend and stick to it.
• Bid strategically: Don't overbid on any one share. Wait for value and bid accordingly.
• Don't chase losses: If you lose a few bids, don't try to recoup your losses by bidding higher on the remaining shares.

History of Calcutta Betting

The origins of Calcutta betting can be traced back to the British colonial era in India. Horse racing was a popular pastime among the British, and they introduced the concept of auctioning off shares of horses to local Indian bettors.

Over the years, Calcutta betting has evolved into a global phenomenon, with auctions held in numerous countries around the world. It remains a popular form of betting in India, particularly during major horse racing events such as the Indian Derby.

Calcutta Betting Today

Calcutta betting is a legal and regulated form of betting in many countries. It is typically conducted through licensed bookmakers or auctioneers.

The global Calcutta betting market is estimated to be worth billions of dollars annually. The Indian market alone is estimated to be worth over $1 billion per year.

Famous Calcutta Betting Stories

• The Maharaja's Secret: In 1944, the Maharaja of Indore secretly purchased all the shares of the horse "Windsor Lad" in a Calcutta auction. The horse went on to win the race, earning the Maharaja a massive profit.
• The Auctioneer's Mistake: In 1977, an auctioneer accidentally sold more shares in a horse than were actually available. The horse finished second, and the auctioneer had to pay out double the winnings to the shareholders.
• The Sharing Shareholder: In 1998, a group of friends bought a share in a horse named "Roman Emperor." The horse won the race, and the friends each received a large payout. They decided to use their winnings to buy a new car and donate to charity.

What We Can Learn from These Stories

• Do your research: The Maharaja of Indore knew his horse and was confident in its ability to win.
• Pay attention to the details: The auctioneer's mistake highlights the importance of being careful when conducting an auction.
• Share your winnings: The friends who won the race showed that it's possible to have fun and do good at the same time.

Table 1: Pros and Cons of Calcutta Betting

Table 2: Estimated Global Calcutta Betting Market Size

Table 3: Famous Calcutta Betting Winners

Conclusion

Calcutta betting is a unique and exciting form of betting that offers numerous advantages over traditional methods. With its potential for higher winnings, spread risk, and social aspect, it's no wonder that this type of betting has stood the test of time.

By following the tips and strategies outlined in this article, you can increase your chances of success in the world of Calcutta betting. Remember, the key to success is to do your research, bid strategically, and have a little bit of luck on your side.