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I know this, because Xiang knows this...You smell the blood before you even see the circle. You're in a small arena, probably seats around 500 people max and in the center is a circle with a roughly thirty yard radius. You see blood and other fluid stains on the matt, and the circle is encased in a mega damage fence. There is a table next to it where a few judges sit and you hear an announcer calling the fight, currently between a juicer and some tall D-Bee that looks a lot like a Praying Mantis. The mantis has wickedly sharp forearms, and draws blood from the juicer quite a few times, but ultimately the Juicer is too tough, and fast, and he kicks the creature into unconsciousness with a series of rapid blows to the head. Half the crowd roars and the other half angrily complains. You learn that tomorrow there is an amateur tournament and that you can sign up now if you are interested.
The fighting. The fight is a single-elimination tournament. It is until the other person taps out, or is knocked unconscious. Occasionally someone does die, but it is pretty rare.
Here is how this task works: Roll an appropriate skill. Fighting, Spellcasting, Psionics or Athletics are allowed. Each round gets progressively harder with an additional -2 penalty accumulating with each round beyond the first. (ie round one is zero penalty, round two is a -2, round three is a -4, etc). You may stop whenever you would like. The first round pays 15,000 credits, and the payout doubles with each subsequent round to a maximum of 4 rounds (120,000). You can stop fighting at any point and walk away with your winnings. All money you win is yours to keep (ie it isn't lost if you lose a round). You can choose to fight as a duo, but one player rolls for the task, while the other can only support (the support is at zero penalty for any of the rounds). Obviously in this instance the money would have to be split between participants.
Gambling. If you aren't much of a fighter, you can choose to bet on the fights instead. Roll your gambling skill and determine how much money you are betting. Like the previous task, this gets more difficult each round with a -2 penalty being added each round beyond the first to a maximum of four rounds. The good thing though is that your initial wager doubles each round (though you may choose to not wager it all if you would like, so whatever amount is being bet will still double). If you fail, all of the wagered money is gone.
Please note, you can fight AND gamble if you want, even betting the money you win from each round.