Races determine the look, acting and classes avilible to the players of the certain race. Races also give some abilities, have some modifiers. Races can highly determine the gamplay style of a player, just like the classes can. here is a list of the current races, but again, like classes new ones may be availible later on:
Orc, Human, Dwarf, Elf, Draconian, Gnome, Goblin, Troll, Angel, Goblin, Shape Shifter, Giant, Demon, Primal, Sprite
Even though some classes may not be availible to some races, training in weaponry and armor for a mage may be wanted for some warrior like things, where a race cannot be a warrior or someone might want to be able to tank and heal, so become a priest and learn all the weaponry, armor and war skills.All races can gain some skill in anything, even though some of hem might be a bit weaker adn some modifiers in stats and role playing might come into effect, but races and classes mixed makes for an exciting game.