Events first appeared after the release of the Ill-Gotten Gains Part 2 update and soon became a fundamental part of GTA Online in the enhanced release of the game, particularly when content updates for Xbox 360 and PlayStation 3 versions of the game were discontinued.
During events, prices of existing content, new and old, are often cut, usually by 25%. As well as this, Double GTA$ and RP is usually awarded on certain game modes. The Import/Export, Executives and Other Criminals, Further Adventures in Finance and Felony, Gunrunning and Smuggler's Run updates are prime examples of updates that had weekly events released continually after the update. These weekly events release vehicles that were added in the update but not officially available, or not purchasable (mission-restricted, for example). During the release of these vehicles, discounts to existing vehicles and double GTA$ and RP is offered to a new Adversary Mode released alongside the vehicle. Discounts usually applies for the vehicles and standard modifications (sometimes selected modifications such as aircraft weaponry), as well as selected properties and its features.
In addition to discounts, business-type features, such as Vehicle Cargo and Supplies, receives bonuses as well, usually offering increased payouts over their standard values. Premium Races and Time Trials lists are often updated on weekly events, having a new track for a selected vehicle class to compete or a new time trial to be completed under par time, awarding the player with the corresponding payouts. Occasionally, a new clothing item is awarded to players when they log to the game within the current weekly event.
As expected from its name, weekly events generally start from Tuesdays and last for one week, though in rare cases, they may last for up to two weeks.
Occasionally, major special events are hosted to celebrate the upcoming release of an update, or a major part of GTA Online, or even real-world history. Examples include the GTA Online Bonuses event which commonly slashes prices of many vehicles, properties, clothing and more by up to 89%. Anniversary Specials was an event which occurred around the time of Halloween Specials 2017 and celebrated the 4th year of GTA Online. This saw a plentiful award of GTA$400,000 to all players who logged on during the event.
Many vehicles have been released over Event periods following the release of a DLC. So far, over 80 vehicles have been released in GTA Online as part of an event after the initial release of the DLC.
While some events are officially titled, the vast majority are not and because one of the first events introducing a new vehicle, the Pfister 811 Week event was officially titled "Pfister 811 Week", all consequent events are simply named after the vehicle that was introduced as part of the event.