Here's a concept new to GTA.
Coming from within the GTA community, for some people the in-game currency stake is no longer enough to make races interesting. When you play jobs in GTA Online, you are rewarded with RP and GTA $, the game's equivalent of experience points and money, respectively. As you may imagine, all of the game's items, and therefore cars, are available for purchase in exchange for money. Basic, right?
Well, some daring elements of the competitive GTA player base aren't content with winning cash from the game - they want their opponent's prized possessions.
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The concept comes from the "pink slip" system in underground racing culture. Basically, the winner is rewarded not with a cash prize, rather the vehicle with which his opponent was racing. Now, since economics, resale, and fluctuating value are a thing in real life, this makes quite a bit of sense in real life, however in GTA V, everything has a set price, and there is no change in the value of currency.
The point of these races would be if both competitors raced with extremely expensive rides, meaning that the value of the prize is significantly more than anything that you could earn through regular races. For example, if one player would be racing with a fully tricked out lowrider (but why on earth would you race with a lowrider?), then the other would be looking at well over a million $GTA in reward.
The other factor which lends this idea some sense is the fact that people are generally kinda, sorta dicks, and the prospect of winning over someone else's property after beating them to add insult to injury is typical of competitive individuals, and the risk of losing your vehicle might appeal to gamblers.
Would any of you offer up your favorite car for a GTA Online race?