This is actually bad.
Halmeldir learns about the prize, the betting rules, and sells a book about the Southern Lands — Evan.
Bets are placed on a single participant, and the winnings depend on the total amount of bets placed (i.e., the more bets, the smaller the winnings in case of victory, and vice versa). Participants in the pool typically bet more on good horses.
No one needs your book.