totally noobish but...

how the heck do you participate in the Xunlai tournament house?

i see it in all the wiki stuff, but i get confused as hell. is it some sort of gambling program in game?

can someone please explain this to me?

Go to this site: http://www.guildwars.com/competitive...se/default.php

Sign up your account there, make your predictions and next month after the AT you can collect any points you may have won in game.