The Tour Divide requires a letter of intent from cyclists. There is no entry fee. Simply a letter that states who you are and where you are from.
A letter of intent gets you on the starting line. But you also need to find a way to see it through. Less than 50% of the entrees of a Tour Divide race will finish.
A less than 50% success rate is not great odds. So why bother?
Putting yourself on the hook is not about winning or even finishing it’s about paying the price to be on the starting line.