The course has been on its present site since 1904, when it moved there from the area known as The Swifts close to the centre of Carlisle.

History was made on 2 July 1929 when the newly formed Totalisator Board operated their pool betting system for the first time on a British racecourse at Carlisle.

Held annually at Carlisle Racecourse in June alongside the Cumberland Plate, the race is run over 7 furlongs and 173 yards, and although the Bell is presented ceremoniously to the winner, it is actually kept in the nearby Carlisle Guildhall Museum.

[1] Carlisle also had a King's Plate – a race for 5-year-old horses in 3-mile heats – instigated by George III in 1763.

[2] The Carlisle Gold Bell is inscribed with "The sweftes horse thes bel to take for mi lade Daker sake", which translates to modern day English as "The swiftest horse may claim this bell in Lady Dacre's name".