Hold a New Tournament
Events: throwing (javelins, etc), archery and magical duels
Length: one day
Awards: first, second and third place
Top Prizes: contest-related (eg, horses for jousting)
Betting: unofficial - rigged odds
Other Entertainment: professional hecklers, musical contest(s) and staged exhibitions
Competitors of interest:
The precocious commoner who is very good.
The charismatic warrior who is surprisingly agile.
The foreign savage who is a long shot to win.
The devoted cleric who has little practical skill.
The musclebound brute who may not be in it to win.