You are asking what you could have done in a race? Place a large tube patch on the inside of the tire. It needs to be large, or it will herniate out the hole just like the tube would. Edit: I've heard of folded dollar bills used successfully in a pinch.

You are asking what to do now? Throw away that tire and buy a replacement. Saving $60-70 on this, considering what the rest of the bike is worth, and the race fees, not to mention your safety, is silly.