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The Fun and the Rules of Golf Auctions

By: John Forther

Date Added : July 28, 2011 Views : 470
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“Golf Auctions”

A golf auction is an auction wagering on golf and other sporting events which includes betting. Another term for golf auctions is Calcutta. Golf auctions are most common at a tournament with four person teams, however golf auctions can be held with any golf tournament. In golf auctions, golfers bid on a golfer or team who they think will win the tournament. Golfers can bid on themselves, or their own team. All of the bid money is then placed into a pool. At the end of the tournament, the team or bidder who won the tournament receives a predetermined pay out from the pool.

Rules of Golf Auctions

The rules of golf auctions differ from auction to auction. Different tournaments also have different rules. Many golf auction organizers use computer programs to apply the odds and determine payout amounts. The most common golf auction payout is a 70 percent payout for tournament winners and 30 percent for the second place team.

Amateur/Professional Golf Auctions

There has to be a distinction between playing for prize money and gambling. Amateur golfers can participate in golf auctions. However, Golfers should always seek guidance from the United States Golf Association when participating in golf auctions to make sure they do not break any rules under the USGA.

The United States Golf Association does not restrict players from informal wagering among golfers or teams when the players are familiar with each other. However, the USGA does not allow golf auctions to be held open to the public. Amateur and professional golfers who participate in golf auctions must agree they are gambling and must waive their rights to cash prizes. All winnings from a professional or amateur golf auction are to be donated to various charities, which makes playing golf for fun a great cause. Golf auctions can be a profitable fundraiser for many different charities and events.

Sam Samson is the author of this article on School Auction Ideas. Find more information on Charity Auction Items here

Article Source: The Fun and the Rules of Golf Auctions

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