Microsoft actually have published a really detailed article on this matter of race conditions and deadlocks. The most summarized abstract from it would be the title paragraph:
A race condition occurs when two threads access a shared variable at the same time. The first thread reads the variable, and the second thread reads the same value from the variable. Then the first thread and second thread perform their operations on the value, and they race to see which thread can write the value last to the shared variable. The value of the thread that writes its value last is preserved, because the thread is writing over the value that the previous thread wrote.