Organisation of Royal Calcutta Turf Club Royal Calcutta Turf Club was organized in 1847 in part to regulate such gambling. A mildly disapproving account from 1866 described the betting practices, which it called "lotteries". Horse Racing During British Imperialism In the early days of horse racing in India betting was through a combination of a lottery and an auction. Typically 100 ten-rupee tickets were sold, with the money placed in a pot. A ticket was drawn for each horse in the race. These tickets were auctioned, with the ticket holder getting half the price of the winning bid and the other half going in the pot. Following the race the pot was divided among the holders of tickets for the winning horses. Beginning of betting on Horse Racing Parimutuel betting began in 1872.The Calcutta Turf Club Derby draw was started as a private sweepstake in 1887 by Lord William Beresford. After World War I (1914-1918) the sweepstake gave prizes for the top three horses in the club's Derby. Calcutta Derby Sweepstake in British Era In British era, gambling became famous among the Britions and the rulers of British Empire in India. Later the babus of Kolkata took the responsibility to gamble on the Horse racing. Calcutta Derby Sweepstake became famous worldwide in the early era of 19th Century, with the pool reaching almost £1,000,000 sterling in 1929 and 1930. Prize Distribution of Horse Racing in Kolkata About 40% of the total pool went to the first prize winner, 20% to the second and 10% to the third. Tickets for unplaced horses also received a share, while the club kept only 10%. The sweep was open only to members of the RCTC, or to friends who could ask members to place a wager. Clumsy methods were developed to make it easier for punters in other countries to place bets, but the Calcutta Derby Sweepstake could not compete with the Irish Hospitals' Sweepstake, introduced in the 1930s, despite the expected pay-out being considerably higher. Related Articles Capital Cities of India History of Kolkata Kolkata, Indian City, West Bengal Culture of Kolkata Economy of Kolkata West Bengal, Indian State Sports in Kolkata Royal Calcutta Turf Club |