After defeating him you have a chance of killing him or sparing him, the choice doesn't matter so is only up to you. If you spare him, he will grant you his own cash bag, and an expired spin ticket. After choosing, speak with Zanik who is waiting for you outside the portal. She will ask you how it's going before telling you that the second round is about to start, head back to Yu'Biusk for the second round.
The second round is against the troll champion, Lol. The special rule for this round is no allowance of armour, this includes, and not limited to: Helmet, Torso, Legs, Boots, Gloves, Capes, Necklaces, Rings, Auras, and Pouch items. Lol protects against Range and Mage, so Melee is the prime choice here. During the round, Lol will throw big rocks at you, dodge them and after a while they will explode causing massive damage if you are near them. Remember, due to no armour your health will be low.
The final round will take place against General Graador, the special effect of this round is that you have to use the Kyzaj weapon, a sacred weapon for this tournament. Don't forget to restock your armour, food, and any potions you think you will need. Before going into the fight, you need to be proficient in the Bandosian shaped bladed weapon. Head back to Zanik to see if she knows anything about it.
Zanik will tell you She doesn't have much time left. She then goes on to teach you how the weapon was made, and how his symbol was based on the weapon. She then teaches you how to hold the weapon, and do damage with it. It's time to head back to Yu'Biusk one more time.
Head back to Zarador, and begin the final round against General Graador. No prayers are allowed as a secondary effect. General Graador's main attack for this round is a big swing, You need to run out of the way of this to avoid 3K+ damage, striking the ground in the center and breaking up part of the platform.
After defeating General Graador, Zarador will stop the battle, whilst throwing Zanik into the arena, claiming you victorious. But before he claims the new Bandos leader, the losing finalist must live, to serve as lieutenant to the winner. But he wants to commemorate the tournament with bloodshed. He gives you the option to kill Zanik. If Zanik is killed, you are disqualified and Graardor becomes the leader of the Bandos army. If Zanik is allowed to live, she will become the leader and General Graador the lieutenant. Make your choice. Head back to Dorgesh-Kaan and speak with Ur-tag to complete the quest.