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The Elder Scrolls IV: Oblivion Hints
How can I place a bet?
1 of 10: Go to the Arena District between 9am and 9pm on any day and talk to Hundolin, who's standing near the Arena entrance.
2 of 10: Tell him you want to bet on a match, then choose how much to bet.
3 of 10: After he takes your bet money, turn right and go through one of the wooden doors that leads to the Arena.
4 of 10: You'll have access to a small part of the spectator area, and can talk to the few people who are in the same area. However, you can't move to any other part of the Arena, including the combat floor below.
5 of 10: Soon after you enter, the announcer's voice will start up, and then the fight between the two contestants will begin.
6 of 10: You can't do anything to affect the outcome, so just wait until one of the fighters is dead.
7 of 10: No matter who wins, go back outside and talk to Hundolin.
8 of 10: If the one you bet on won, you'll get double the amount you bet. Otherwise, you get nothing.
9 of 10: You can slowly but surely build up your gold inventory by quicksaving right before betting, then quicksaving again after every win and quickrestoring after every loss.
10 of 10: To make that process a bit less tedious, you can try to skew the odds in your favor.