Being one of the oldest architectural sites, the Happy Valley has gained international reputation for the racecourse where horse races occur in Hong Kong. It was founded in mid 1840s to provide entertainment to the British by horse race. Before it turned into racecourse, it was a marshland, the very first race occurred in 1846, and now it is a favorites racing venue. Horseracing is vital source of Hong Kong’s economy. Usually the racing season begins in September and continues until June of the next year, and races occur twice in a week.

The first race of the week starts in Wednesday and the later one is on Saturday or Sunday afternoon. Admission is not free inside the racecourse. You are to pay HK$ 10 for the entrance. It can accommodate about 55,000 people. The racing tracks are advanced with gigantic computer screen. The race card information and betting is displayed on the giant computer screen. Usually there are seven or eight races held in every race days and the break among the races is about half an hour.  Happy Valley also houses the Horse-Racing Museum of Hong Kong.

The Horse-Racing Museum contains the history of horseracing and different types of harnesses and stories are displayed there. There are different stands in the racecourse ground including the general stand, second floor terrace, private boxes etc. and they require different entry fee for each. A collapse of a temporary grandstand in February 1918 resulted in fire killed about 590 people in the racecourse. The Leisure and Cultural Service Department of Hong Kong also runs football, hockey and rugby facilities in the inner filed of the racecourse.