Haven't seen this posted before, and seems like a scam to me...
First you need to find someone and ask them if they want to race on mounts. You must be riding on your NON-EPIC mount when you talk to them.
You will be heading to somewhere to race. You must then say how much gold you guys are racing for. (I personally pick 1-5g) Then get on your epic and win the race. That's free gold.
It might ruin your rep though.
Thought this up a few days ago and decided to share my discoveries with the World of Warcraft.