Winner-Take-All (WTA) refers to the neural operation that selects a (typically small) group of neurons from a large neuron pool. It is conjectured to underlie many of the brains fundamental computational abilities. However, not much is known about the robustness of a spike-based WTA network to the inherent randomness of the input spike trains. In this work, we consider a spike-based $k$--WTA model wherein $n$ randomly generated input spike trains compete with each other based on their underlying statistics, and $k$ winners are supposed to be selected. We slot the time evenly with each time slot of length $1, ms$, and model the $n$ input spike trains as $n$ independent Bernoulli processes. The Bernoulli process is a good approximation of the popular Poisson process but is more biologically relevant as it takes the refractory periods into account. Due to the randomness in the input spike trains, no circuits can guarantee to successfully select the correct winners in finite time. We focus on analytically characterizing the minimal amount of time needed so that a target minimax decision accuracy (success probability) can be reached. We first derive an information-theoretic lower bound on the decision time. We show that to have a (minimax) decision error $le delta$ (where $delta in (0,1)$), the computation time of any WTA circuit is at least [ ((1-delta) log(k(n -k)+1) -1)T_{mathcal{R}}, ] where $T_{mathcal{R}}$ is a difficulty parameter of a WTA task that is independent of $delta$, $n$, and $k$. We then design a simple WTA circuit whose decision time is [ O( logfrac{1}{delta}+log k(n-k))T_{mathcal{R}}). ] It turns out that for any fixed $delta in (0,1)$, this decision time is order-optimal in terms of its scaling in $n$, $k$, and $T_{mathcal{R}}$.