Events are special timed PVP battle occasions in Heroes of Dragon Age. Events occur regularly and last one or more days. Cumulative rewards can be won throughout the event, with special awards at the end being rewarded based on your final overall rank.
Unlike standard PVP battles that award trophies, Event battles award banners. Earning set numbers of banners earns various achievement rewards, such as gold, gems, experience, runes, and characters. The higher up the "ladder" you climb, the better the rewards, with the final reward usually being a specific Epic or Legendary character.
During most events, a specific criteria will be set where using a specific type of hero (be it a color faction, heroes from a specific locale such as Ferelden, heroes who damage multiple enemies, etc.) will grant those heroes a substantial bonus to their power and/or health. These bonuses are critical in winning the battles, as using a set of heroes without any bonuses will put you at a distinct disadvantage against other players.
As you play through the event you will move up in rank; your final standing will determine what you are awarded from the "Final Rank Rewards". There are several brackets in the final ranking, ranging from 1st place to 1,000,000th place. The cutoff points for the brackets vary from event to event, though generally after the first 5,000 ranks the next bracket down will occur approximately every 5,000 to 15,000 ranks. Final rewards include gems, characters, and gold.