Abstract: For red deer stags, fighting both has appreciable costs and yields considerable benefits. Up to 6% of rutting stags are permanently injured each year, while fighting success and reproductive success are closely related, within age groups as well as across them. Fighting behaviour is sensitive to changes in the potential benefits of fighting: stags fight most frequently and most intensely where potential benefits are high and tend to avoid fighting with individuals they are unlikely to beat. The relevance of these findings to theoretical models of fighting behaviour is discussed.