What kind of bet does odin make with hrungnir

A race between the horses

Explanation:

When Odin visited Hrungir on his eight legged horse, Hrungir was surprised to see and at first could not recognise the God.

He asked who it was and was amused to see the speed and talent of the horse asking about who was it whose horse could travel through air and water with such speed.

It was Odin. When he flashed his horse and boasted about how there was no other like him, Hrungnir felt insulted and offered a race between his golden mane and Odin's eight legged majestic horse.

To what was expected, Hrungnir's horse couldn't catch up to Odin's horse.  

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what is this from, i cant tell what language he uses without the piece of literature