Ocarina of Time: Epona

Epona

Epona is the mare Link rides throughout the adventure, named after the Celtic goddess of horses. Aside from being able to run at speeds far in excess of Link's, Epona can jump any-sized fence and the broken bridge at Gerudo Valley. You will need Epona to participate at the Obstacle Course and Horseback Archery, and to obtain Biggoron's Sword.
You can only ride Epona at Hyrule Field, Lon Lon Ranch, Lake Hylia, Gerudo Valley and the Gerudo's Fortress. Epona cannot go through water. However, with the right run-up Epona can jump any fence you attempt. Whenever you dismout from Epona, she'll be waiting at the place where you left her, or play Epona's Song at any time where Epona can be ridden to summon her. While riding Epona you are invincible and can only use the Bow and Wooden Arrows. Epona can trample over enemies and bushes to eliminate them.

Getting Epona requires Epona's Song and at least 70 Rupees. To gain Epona, head for Lon Lon Ranch during the day. Ingo will be there, and for 10 Rupees he'll allow a minute for you to muck around on any of the horses in the ranch's corral.
There are only two horses there which can be ridden, and each of them have saddles. One is a brown horse with a green saddle, which is quite tame and won't mind one bit if Link tries to ride it. This horse is tame, obedient, and not very fast, making it ideal for beginner riders.
Epona is the rust-coloured horse with the blue saddle. If you attempt to run straight for Epona, she will run off in fright. However, if you play Epona's Song she will be tamed by the song's gentle notes and come running for you. You can now freely mount Epona without fear of reprisals. Epona is very fast and agile: with her, you can jump the large fence inside the corral. Doing this gains you five Rupees.

When you first ride around at the ranch, you can just get used to what it's like to ride. However, the second (or later) time you go, mount Epona and jump either fence inside the corral. Now go over and talk to Ingo: he'll challenge you to a race. You must complete one lap around the corral with the horse you're currently mounted on. Mount the tame brown horse and be doomed to failure, which costs 50 Rupees. If you're on Epona, you have every possibility of winning.
If you beat Ingo once, he'll challenge you again in a case of sour grapes. However, the stakes this time isn't just cash: it's the ownership of Epona. Remember that failure costs 50 Rupees, but you can challenge him again immediately without paying the 10 Rupees to ride. However, if you must leave the ranch to find more cash, you must pay the entrance fee, lull Epona toward you and jump one of the fences.

There is no trick to beating Ingo save for skillful riding. You must get a time of around 30 seconds the first time to defeat Ingo, but on the second lap you must shave five seconds off that time. I've had the most success with the following technique:

After agreeing to the race, there's be a short part where you see Link and Ingo at the starting line on their respective horses. Hold foward on the Control Stick during this time to get the best chance of a good start.
When Ingo gives the starting signal, start using up your carrots. However, do not use up the last carrot!! Doing so means you have to lose all additional speed before they regenerate, but if you don't use the last one you only have to wait a few seconds before one regenerates.
As you come to the first bend, Ingo and Link will brush very close together. Keep trying to move foward as fast as possible and you'll be able to pass him. If you don't pass him here, try to keep up and overtake him later.
As a single carrot regenerates, use it then and there. This enables you to keep your speed constant and remain in the lead.
As you come to the finish line, burn up whatever carrots you have left in a final mad dash.

Of course, this is only a suggested stratergy. Use your own stratergy if you wish, but whatever you do, make sure you follow these rules:

Do not tailgate Ingo. This means Epona will slow down and you'll lose the lead. Feel free, however, to get in front of Ingo if he's getting a little too close for comfort, and prevent him from overtaking you.
Do not use up the final carrot during the race, otherwise you'll lose all your speed and, most likely, the lead.

After you win Epona, Ingo will be even more peeved off and shut the gates on the ranch, preventing you from leaving and taking Epona away. You now must get a run-up and jump over the perimeter of the ranch to truly win Epona. Jump over the fence which Ingo locks, but that can take forever to get the right speed; it's far easier to jump one of the other fences along the perimeter of the ranch. Just charge straight at it while using up your carrots, and Epona will now be yours!

"Anyone who seeks fame need only become familiar with all that I have acheived." - Claudius Galen
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