I just did an 8 person race... the person in frist only got 4000 dollars. I came in third and only got 1000. I can't believe they nerfed it this badly. You used to get over 10k dollars for winning a race and now you get less than half than what you did before. And they STILL haven't fixed the sell your car to LS customs over and over again glitch. So everyone who plays legitimately has to suffer.
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I just do the Coveted mission over and over for money, it's $12000 for a three minute mission plus 2000RP.