I remember reading it in the late 8080s or early 90s. It was about a man who was a slave on a planet where the absurdly wealthy slave owners would have a planet-wide series of games; everything from chess to football.
A slave would compete in a random event then move forward in the bracket. The citizens would bet on the slaves. The slave who won the last bracket would earn their freedom and enough money to fit in with the masters on the planet.
Only the masters were allowed to wear clothing so that slaves could be easily identified.