Valstafns vætki rofna,
viti menn, at frák tvenna
haus manns hringi ljósum
hirðmeðr konungs veðja.
Hermart (hjǫrva snyrtir
hvárr lézk grams í hamri)
styrremðr stillir framði
stœrra (ǫðrum fœrri).
Viti menn, at frák tvenna hirðmeðr konungs, vætki rofna valstafns, veðja haus manns ljósum hringi. Hvárr snyrtir hjǫrva grams lézk fœrri ǫðrum í hamri; styrremðr stillir framði hermart stœrra.
May people know that I have heard that two retainers of the king, not giving way in the falcon-stem [ARM], bet a man’s head [and] a shining ring. Each polisher of swords [WARRIOR] of the prince claimed he was more agile than the other on the crag; the battle-mighty ruler [Óláfr] performed very much [that was] greater.