• Unless I'm mistaken, most of the entry fees go towards the costs of administering and organising the race.
    The people who enter will do so for a variety of personal reasons, even if they know they won't win. Beat last year's time, beat your mates, get a medal, have a fun day out, give yourself race experience etc.
    I'm not sure that "the fast robbing the weak" is something that crosses many entrants' minds, really.

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