The Bear Pits were a sporting arena, where spectators could watch, and probably gamble on fighting bears.
Garrett overheard the Bafford Front Gate Guards discussing the Bear Pits. The older guard did not like the bear pits, preferring back to when he was young. There, he said, the bears had "wicked teeth" and "claws as long as your finger", and did not have assorted metal attachments. The other guard did not understand, thinking that bears without harnesses, muzzles with underslung cheek spikes, razor collars, and paw hooks were quite docile[1].
Confections such as taffies are sold at the events[2].