Calcutta wager
 n.Gloss: a form of gambling on a sporting event involving multiple contestants in which each contestant’s name is auctioned off to observers. At the end of the event, the high bidder for a winning contestant’s name receives a percentage of the total amount taken in by the auction. Note: Also known as the “Calcutta auction” or just a “Calcutta,” this gambling is regulated by American law but has been associated with golf, billiards, and other sports. «This is not for fishing, mind you, but for guessing which of the actual anglers in the competitions will place highest, and in what order. It is suspiciously like what is known as the “Calcutta” wager in saltwater fishing tournaments, except for one important difference, which makes Fantasy Fishing legal, while Calcutta’s are not; there is no entry fee and no bet is required.» —“What’s Next? Fantasy Fishing Will Reel You In” by Frank Sargeant (Tampa Bay, Florida) Dec. 19, 2007. (source: Double-Tongued Dictionary)

Tagged with →