Motivation and self-regulation are significant concerns in learning environments that include mechanics of gamification and self-pacing such as in quest-based learning (QBL). QBL is a gamified learning environment designed around quest-like activities, self-pacing, and an external reward system that was offered in an introductory educational technology course for preservice teachers at a large Midwestern university. Research was conducted to examine the relationships between the student motivation, self-regulation, and motivational goal orientations, and the differences in motivation and performance between the QBL and a traditional course. Results showed that there was no overall relationship between motivation and self-regulation but when goal orientations were taken into account, self-regulation and motivation were found to be significant factors in regards to motivation. There was no significant difference in motivation between the QBL and a traditionally taught course. However, students in the QBL had significantly higher final grade point averages.