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The style of racing, the distances and the type of events varies very much by the country in which the race is occurring, and many countries offer different types of horse races.

In the United States, races can occur on flat surfaces of either dirt, polytrack, or grass, generally Thoroughbred racing; other tracks offer Quarter Horse racing and harness racing, or combinations of these three types of racing. Racing with other breeds, such as Arabian horse racing, is found on a limited basis. American Thoroughbred races are run at a wide variety of distances, most commonly from 5 furlongs to 1½ miles (2414 m); with this in mind, breeders of Thoroughbred race horses are able to breed horses that excel at a particular distance (see Dosage Index).

The high point of US horse racing has traditionally been the Kentucky Derby which, together with the Preakness Stakes and the Belmont Stakes, form the Triple Crown of Thoroughbred Racing for three-year-olds. However, in recent years the Breeders' Cup races, held at the end of the year, have been challenging the Triple Crown events, held early in the year, as determiners of the three-year-old Champion. The Breeders' Cup is held at a different track every year; the most recent edition (2006) was held at Churchill Downs. It also has an important effect on the selection of other annual Champions. The corresponding Standardbred event is the Breeders' Crown. There are also a Triple Crown of Harness Racing for Pacers and a Triple Crown of Harness Racing for Trotters.

American betting on horse racing is sanctioned and regulated by state governments, almost always through legalized parimutuel gambling. Thoroughbred horse racing in the United States has its own Hall of Fame in Saratoga Springs, New York. The Hall of Fame honors remarkable horses, jockeys, owners and trainers.

The most famous horse from Canada is generally considered to be Northern Dancer, who after winning the Kentucky Derby and Preakness went on to become the most successful Thoroughbred sire of the 20th Century. The only challenger to his title of greatest Canadian horse would be his son Nijinsky II, who is the last horse to win the English Triple Crown, and was a better racehorse. Woodbine Racetrack in Toronto, home of the Queen's Plate, Canada's premier Thoroughbred stakes race, and the North America Cup, Canada's premier Standardbred stakes race, is the only race track in North America which stages Thoroughbred and Standardbred (harness) meetings on the same day.