Step 1: Research
Go to Google Calendar and look for upcoming events related to a location/niche. This event should be after 3-4 months so that you'll get enough time.
Step 2: Create a Website
Do the necessary keyword research and set up a Wordpress website with a domain name related to the event.
Eg: worldcup2017news.com
[IMPORTANT] Do not use trademarks in domain name or your domain could be seized by the trademark owner.
Eg: WrestleMania2017.com
Step 3: Add content to the website
Hire some experienced writers or write your own 1000+ words articles based on high volume keywords based on your event.
Step 5: Get Links
Build PBN links and social shares on all the articles of your website.
Now wait for the event and cash out $$$$ overnight.
Tip: Get a good hosting provider which accepts high volume of realtime traffic and let them know about the traffic surge beforehand so that your site doesn't face any downtime during the event. Also optimise your website for fast speeds and less load on the server.