Formula Dé RPG (working title)
There are two general race types: Formula races and Street races.
Formula races are ranked from Formula 4 to Formula 1, with F1 being the most prestigious (and most difficult to get into). They also utilize standardized cars (though tweaking is allowed), average more total cars than in Street races, and emphasize the skill of the driver. The payouts are more evenly shared than in a typical street race for the sake of fair play, but the public respect and the possibility for sponsors are usually worth it.
Street races can be as large and as glamorous as the city they’re in, but most are generally smaller and less prestigious than even the lowest Formula races. On the other hand, each driver brings their own car, which can be tricked out and upgraded. Unless the race is somehow ranked or regulated, this does allow for hot-shots with expensive rides to mingle with wannabes in stocks, but someone of that caliber is likely to shy away from the equally small-fry payouts. There are rumors of huge, internationally-viewed “underground” races, with big money from all around the world betting on their favorite racer. They’re also rumored to be viciously rule-free (other than "get from point A to point B faster than everyone else) and highly illegal.