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The 11-year-old was one of about 480 people who made their way around the racecourse for a distance of 5km, being pelted with coloured powder of various shades at stations along the way.
Riccardo, who completed the run with his Columba Scout Group troop, broke his arm on the last Saturday of the recent school holidays, when he slammed his fist into the ground.
"It was kind of a surprise ... it's part of our scout camp.
"I was probably going to do it anyway.
"I did the 5km non-stop, but it was probably harder than if I didn't break it. But it was pretty good. I loved it."
Sport Waitaki co-ordinator Mitch McRae said it was the seventh time the event, which offered participants a different dynamic to a traditional run, had been held.
"I think with the paint being thrown ... getting exercise in, walk or run, adding that element of throwing paint makes it a little more attractive for people and enjoyable for everyone."
Money raised at the run goes to the organisation Sporting Chance, which supplies children with footwear or pays their club subscription fees so they can play a sport.
Mr McRae said in the 2018-19 financial year, $8000 was allocated to 48 children in North Otago.