Can Somebody Explain The Xunlai House Tournament To Me?

Only a few days ago I was in Great Temple & went around talking to all the different NPC's. One of them briefly told me about the Xunlai House Tournament & asked me if I wanted to open a new Browser window to place my predictions in the upcoming tournament. I did this & randomly selected a load of teams & their placings in the tournament etc, but I don't know what comes from this now.

What happens if I make correct predictions & will I get notified etc?

Basically I know nothing at all really about any of the tournament & would appreciate it if somebody could narrow it down for me or explain it to me better, thanks a lot.

You'll need to register with Tolkano in order to get any rewards (Tournament Points). Later, the Xunlai Tournament Agent will start handing out these reward points to people that guessed well (will be anouncement on GW site). Once you get your reward, you can talk to Tolkano to redeem the points for stuff (like Zaishan Keys).