I play in a few events that hold a Calcutta. None of course with the kind of coin spoken of in the OP.
The one MG did get a bit out of hand though and therefore to prevent the 60 team auction from taking 5 hours and so teams ( which have the right to buy 1/2 of their team back should another person buy it) not have to drop 3-4k , they implemented a maximum of $2000 /team and the max a team needs to pay a buyer of their team is $400 for 1/2
pot still gets to $60,000 +
Then there are all the parimutuel bets where you can wager in multiples of $20 on teams to come 1,2,3
