So far the characters I've tried cannot do this race as they click on the dias and don't get mounted (this is after dismounting and dismissing merc) I see the race items appear, but no timer and even just running nothing picks up. Any help would be appreciated.
You don't actually click on the disk on the ground. Once you are dismounted stand on the disk or move over it (move away and back if it doesn't work the first time) and you should get the special mount for the quest and the counter should start.
This may seem like silly advice, but since you didn't mention it I just though better be safe than sorry. Be sure you speak with the quest giver before running over to the dais. ~ Kaitheel
