The Bridge-to-Bridge and the Assault on Mount Mitchell rides held here in North Carolina are sort of in between a ride and a race. They are officially NOT races--but they are mass start rides with an official start clock, you have an ankle chip, your time is visible on a big clock when you approach the finish line, the results are posted in time-to-finish order, and teams come in from all around the country to participate. Best of both worlds.
--Steve