The Adventures of Teddy Ruxpin - 1x47 - Wizardweek- Followmy.tv

The Wizard of Grundo returns home from Ying without having turned a profit. He concocts a scheme to hold a festival in honor of all the wizards in Grundo (he's the only one, natch) with races and prizes -- and admission fees. Word spreads throughout Grundo, and everyone begins forming teams, including the Tweegs. The stakes are raised when Jack goads Gimmick into a wager, the loser agreeing to leave Gimmick's Valley forever.
The teams prepare, and converge for the competition. The Wizard of Grundo unveils a mystery prize for the winning team -- a giant box, which the Wizard tells Louie is empty at the moment. Regardless, the games begin, and Team Tweeg does everything possible to cheat -- but still loses.