How do I create a block?
Quickly, it's $block['content']=module_race_results(); in your hook_block_view(), and $blocks['raceresults']... in your hook_block_info() so it matches your hook_block_view().

More precisely, this is probably more of what you are trying to accomplish:

function module_race_results_block_info() {
  $blocks = array();

  $blocks['raceresults']['info'] = t('Race Results Block');
  // any more blocks here

  return $blocks;

}


function module_race_results_block_view($delta) {
  $blocks = array();

  switch($delta) {
    case 'raceresults':
      $blocks['subject'] = t('Race Results');
      $blocks['content'] = module_race_results();
      break;

    // any more blocks here

    }
  }

  return $blocks;
}

function module_race_results() {
  $content = "Testing Race Results Block";  // eventually this should become a renderable array instead of plain text or html
  return $content;
}