This weekend my golf buddies played what's known as Auction Pool at my club. It's a 3-man scramble format with players grouped into A, B, C and in theory teams should roughly even out in handicap.
Then they go auction teams off for some real money, minimum of $500 a team and there are always some big spenders pushing up the action. Maybe sometime i'll play in this, but when i'm playing like a schlub there's no freaking way i'm going to pay up to $600 myself to buy my own team when i'm sucking balls, plus having to hack around with some hackers... meh... not my thing. If I'm hot, ok then I'll play maybe. Anyways, Matt's team went for $600, Harry's for $1200 (lol). Total pool is 23k'ish and it goes 50%, 30%, 20% for payouts, then there are side bets. Yeah, winning pays well.
So on friday i'm seeking some bets so I offer Matt $125 for half his share of his team, a nice 25% premium but he turns me down as he realizes he got a great deal. I offer Harry $75 for a half share of his, because I'm a jerk and wanted to rib him. He should have taken it and saved himself $75.
So, no action from the auction. I then decide we need to change the terms of the famed 2-handicap wager with Harry. He's a 5 handicap as of this moment, a 2 is a long way away... so I offer him 3 and 4 as well. That is, if he hits a 2 he wins $300. If he hits a 3 he loses the 2-handicap bet and wins the 3 and 4 thus netting $100. If he hits a 4 he wins $100 but loses the 2 and 3 bets so nets a less of $100. Fortunately, he took the bet so my efforts in dreaming this up were not worthless. Same rules apply, has to finish the season (see: no more golf) at the final tally -- that usually means fantasy football season near the draft for him :)
I made 2 nasty doubles in shooting a 78 at the club, lost my skin money... sigh. Neither of the horses i tried to buy in the Auction placed, so that was money well saved.