Many foreigners from all over Wilderland join the townsfolk of Esgaroth in the festivities called Dragontide, held to celebrate the death of Smaug. This is a three-day festival held in Lake-town from the first of November to the third, celebrating the killing of Smaug the Dragon and the end of the harvest season. All three days are given to much eating, drinking and singing, as hundreds come to enter the town, or camp on the grounds cleared for the purpose on the shore at the end of its bridge.

The first day opens with the most popular archery contest of the region, the Day of the Black Arrow: the best bowmen of the region put their skills to the test in different games.