On August 3, 1863, casino operator and future congressman John Morrissey organized the first thoroughbred race card on the Oklahoma Track.

[11] After the successful meet ended, Morrissey purchased 125 acres of land across the street from the old standardbred track, built a new grandstand, and dubbed the venue Saratoga Race Course.

The course was closed in 1896 due to increasing competition among thoroughbred tracks, making the meet at Saratoga not viable that season.

In 1901, it was purchased by a group of investors led by William Collins Whitney, who made major improvements and restored its reputation.

[20][21] Saratoga Race Course has several nicknames: The Spa (for the nearby mineral springs), the House of Upsets, and the Graveyard of Champions.

[25] A distinctive feature of Saratoga Race Course's dirt track was the Wilson Mile chute, which branched off from the clubhouse (first) turn at a 90-degree angle.

The chute was dismantled after the 1972 season to make room for additional parking, although in 1992 some one-mile dirt races were brought back at approximately the same location.

Since 1864, the track has been the site of the Travers Stakes, the oldest major thoroughbred horse race in the United States.

Champion filly Go For Wand, who suffered a fatal injury during the stretch run of the 1990 Breeders Cup Distaff, is buried in the Saratoga Race Course infield.

[39] In August 2021, the President of the Saratoga County Chamber of Commerce, Todd Shimkus, estimated that the race track had a $240 million annual regional economic impact.

[40] The COVID-19 pandemic had a negative impact on small business owners in the city of Saratoga Springs, as the 2020 meet did not allow in-person spectators at the venue.