Updated Thu, Feb 06, 2014 by Lee B.
Drafting requires you to spend 1,000 IP or 50 LP (about .35 USD) and to be level 5 in order to participate. This mode allows you to pick 3 Commanders and 40 cards one at a time from a 4 card pool. You are then pitted against other Arena runners in a game that tests your ability to build a solid deck from a random draw of cards, and a little bit of luck.
The rewards you get for Rift Running are based on how many wins you get. One to four wins will give you a bit of your initial IP investment. Four to Five wins will get you about 1,000 IP which allows you to break even and play another game for the potential of a long streak of Rift Runs. Beyond this is a scaling system that gives you more IP and a higher chance to get cards with your IP reward.
At the end of the Rift you have the ability to purchase your Drafted deck. Deck purchasing starts at about 35k IP and an equivalent amount of LP of around $10. The price of the deck is decreased based on the amount of games you've played in the run, and can go all the way down to being free.
If you have any more questions you can always head over to the official forums at www.lightmare.com.au/forum/ where many will likely answer any immediate questions you might have. Then head on over to www.infinitywarsgame.com to sign up with the code 338ED to get yourself into the beta today!