Prior to his demise, Hrungnir engaged in a wager with Odin in which Odin stakes his head on his horse, Sleipnir, being faster than Hrungnir's steed Gullfaxi. During the race, which Sleipnir wins, Hrungnir enters Ásgard, and there becomes drunk and abusive. After they grow weary of him, the gods call on the god Thor to battle Hrungnir. He is slain by Thor's hammer Mjölnir.