1. To compete (against someone) in a trial of speed or time in order to win some prize or reward. In this usage, a noun or pronoun can be used between "race" and "against" to specify what or whom one is racing. A: "I want that toy!" B: "I'll race you for it!" The two biker gangs are racing for control of this area.

2. To move, run, drive, etc., in a very hurried or frantic manner in order to reach or get to some place. As soon as we pulled into the garage, Tommy jumped out of the car and raced for the bathroom. I raced for the telephone the moment it rang.