yes I noticed that you receive better rep for your placing, and you don't seem to get any rep if you don't place top 3.
English
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I haven't taken notes on it, but I [i]think[/i] you get some rep as soon as you finish the race (45 rep, maybe) then once the race is completed, you get a bonus based on your finish (55 for 1st, I think. Beyond that I can't remember).
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you get 55 for first, 45 for second, 35 for third, nothing for rest