Bega Cup Carnival Calcutta
Saturday 01 February 2020
Raffle tickets sold on the night. The ticket sales create a pool of money called the Starting Pool. The corresponding number of tickets to horses racing in the Bega Cup are drawn out and are matched with a horse. The starting field comprises of 16 horses, but there are sometimes scratchings. If no scratchings, 16 tickets will be drawn. Those lucky enough to have drawn a horse become the horse owner. (Please note that there is no money back for late scratchings.)
At this point, horses will be auctioned. If the original horse owner would like to keep their horse, they must 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. Half this amount is added to the Starting Pool, while the other 50 percent goes to the original horse owner. The successful bidder is now the new horse owner.
The prize pool which is divvied up amongst the horse owners of the first three place getters in the Bega Cup