Horse track racing and betting is a great way to make a good amount of gold and have fun too. The racing event takes place each Sunday at 6pm Eastern time in our Cyrodiil home campaign. The unpredictability of Cyrodiil is what makes this race a challenge. Some contestants may have faster mounts than others, but with rough terrain and hostile enemies lurking about, it could be anyone's race. The actual course will likely change each time depending upon enemy controlled areas and will be up to the guild leadership to be decided. There are two ways in which to experience this event and both are equally rewarding.
The entry fee to participate in a race is 5,000 gold and contestants are restricted from betting on the race. If you are interested in being a contestant in the race, you must let the guildmaster know by the event the week prior. At the end of each race, up to eight contestants will be selected by a random drawing of willing participants. Once the racers are drawn they must pay their entry fee, then they will be placed on the racing spreadsheet. Racers must show up an hour before the next event or they will forfeit their entry fee and lose the opportunity to race in future events. If this happens, any bettors who had placed wagers on said racer will have the opportunity to move their bets to another racer or get refunded their wager. Upon completing the race, the top three racers will earn back their entry fees along with a percentage of the total wagers. Their prize purses will be listed on the spreadsheet.
The minimum amount of gold to place a wager is 200, however you can place any amount you wish above the minimum. Wagers can be placed anytime after the racers have been selected and before the start of the event of the following week. You can face to face trade your wager with the guildmaster or mail it to him; just be sure to identify the racer you have your wager on. After your wager has been received it will be entered into the spreadsheet. The payout if you should win will be listed beside your wager. This amount is dependent upon the odds of your selected racer and will fluctuate until all bets have been placed. These odds are represented on the spreadsheet by a percentage of total wagers beneath each racer. To put it simply, the higher the percentage is, the less the payout will be and vice versa. After the completion of each race, all winners will be sent their payout earnings.