Calcutta Value Calculator
Find the fair value of a team in a Calcutta auction before you bid.
Enter the total pot, the payout structure, and your team's chances of winning and finishing runner-up. The calculator returns the team's fair value, which is the most you should bid in the auction.
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Everything behind the numbers
What is a Calcutta auction?
A Calcutta is a betting pool where participants bid in an auction to 'own' the teams in a tournament, like March Madness or a golf major. The money raised forms the pot, which is paid out based on how far each team advances. Own a team that goes deep and you win a share of the pot.
How a team's value works
A team's fair value is its expected share of the pot: the chance it wins times the winner's payout, plus the chance it finishes runner-up times the runner-up payout, and so on. Bid less than fair value and you have a positive-EV buy; bid more and you are overpaying.
How to use the calculator
Enter the total pot and the percentage paid to the winner and runner-up. Then enter your team's probability of winning it all and of finishing runner-up. The result is the team's fair value, your max bid.
Run your Calcutta on BettorEdge
BettorEdge competitions include auction squares and pools so you can run a Calcutta-style auction with your group. Bring the bracket, we will handle the rest.
Frequently asked questions
How do you value a team in a Calcutta?+
Multiply the pot by the payout share for each finishing position and weight it by the team's probability of reaching that position. Add them up for the team's fair value, your max bid.
What should I bid in a Calcutta auction?+
Bid up to the team's fair value. Paying less is a positive-EV buy; paying more means you are overpaying for the expected return.
What is a typical Calcutta payout structure?+
It varies by pool, but a common split pays the majority to the winner (for example 60%) and a smaller share to the runner-up (for example 25%), with the rest to semifinalists.
Can I run a Calcutta on BettorEdge?+
Yes. BettorEdge competitions support auction squares and pools, so you can run a Calcutta-style auction with your friends.