In a normal race, you would have sponsors and you don't have to pay for anything as you just need to concentrate on the race itself. The sponsor would shoulder your expenses since you would be representing his company. Of course, the sponsors are the super rich since they have some kind of company with them and you would be there representative in the race. The sponsor would not get any of the prize reward, but his company would be known if you win. It is some kind of long investment, wherein the company would wait for a long time before he can see the gains of his investment. As a participant in such race, you would just need to focus on the race itself, but in this case, you don't have a sponsor and you would be paying some money to get in the race. If you land on second or any other spot lower than the first then you get nothing.
The idea here is to win the race. There are no other position other than the first spot. You need to drive your car as fast as you can and make use of the boosters as often as you want, but the booster is limited, so you would need to depend on your driving skills.