In Tournament 4, each area in the arena will have a different hazard. Electrical storm, Night, etc. pick the stage with Ring of Death and start up. Move to the edge of the map and look for a space with either a red or orange grate over it and a money bag on top. Land on that space and enjoy your treasure + chievo.
You may be able get this earlier. I personally didn’t see Ring of Death until Tournament 4.