Horseracing in the Philippines began as a recreational activity in 1867. Its history is divided into three major time periods based on the breed of horses raced, in conjunction with the three significant eras of Philippine history. According to the type of horses used, the periods are the Philippine-pony era (1867–1898), the Arabian-horse era (1898–1930), and the Thoroughbred era (1935–present).

The Philippine-pony era refers to the time when the Philippines was under Spanish control. At that time, racehorses were bred from the German, Persian, and Israeli lineages of the Classical period in Philippine history, 900–1521.

The Arabian-horse era refers to the time when the "American Philippines" were a territory of the United States, 1898–1946, although the Arabian-horse era only lasted until 1935.

The Thoroughbred era (1935–present) replaced the breeding of Arabian for horseracing with local breeds; the era continued when the Philippines became an independent republic in 1946.

Spanish era (1521–1898)

Philippine-pony era (1867–1898)

Straight-way course The earliest record of horseracing in the Philippines was in 1867. At that time a straight flat course measuring was used. From 1867 to approximately 1881, the common breed of horses used were those whose lineage were of Suluan, Indian, and Chinese stock. Also in 1867, the Manila Jockey Club (MJC) was founded by Philippine Governor-General José de la Gandara y Navarro, a Spaniard, together with the club's founding members (the , literally meaning "founding partners"). The MJC was the first racing club established in Southeast Asia, with 100 founding partners from the "prominent and affluent families" of the time period, including Spaniards, Filipinos, and English. These families include the Ayalas, the Zobels, the Tuasons, the Elizaldes, the Bousteads, and the Prietos.

Because the MJC was established as a social and recreation club, from 1867 through the 1870s only "fun runs" without betting were held annually, during April or May. The straight course ran from the Basilica of San Sebastian, Manila up to the Quiapo Church. The jockeys for the ("official races") were restricted to club members. The prizes for the winning jockeys included a gold medal, a silver medal, and an ornamental watch.

English-style oval horseracing English-style horseracing was first used in the Philippines from 1881, being held twice yearly for four consecutive days. The event was supported by Governor-General Eulogio Despujol. The location was moved in 1881 from the MJC in Quiapo, Manila to the oval of the (Santa Mesa Hippodrome) in the district of Santa Mesa, also in Spanish Manila, next to the Pasig River; by 1880 Quiapo had become crammed with shops and businessmen's residences. The new location was a ricefield rented by the club from the Tuasons, a family club member. The grandstand next to the new oval track was made of nipa and bamboo. Back then, horseraces on the oval track ran clockwise, like in England, but nowadays they run counter-clockwise, like in the United States.

The horseracing activities of the MJC were suspended during the 1896 Philippine Revolution, a conflict between Spanish soldiers and Filipino revolutionaries. They resumed after the ratification of the 1897 Pact of Biak-na-Bato. The truce was celebrated in Manila with a fiesta in Manila for the entire month of January 1898. The MJC intended to celebrate the truce by holding a race known as the ("Grand Manila Cup") in May 1898. The prize trophy for the winning horse rider would have been a silver cup made in Hong Kong, embellished with horses' heads and a likeness of Justitia, the goddess of justice. But it was not to be, because in 1898 horseracing in the Philippines was suspended with the onset of the Spanish–American War, that lasted from April 25 until August 12, 1898. The Gran Copa trophy was sent by the MJC to the Shanghai Bank in Hong Kong for safekeeping, and was only returned in 1937, after 38 years.

American era (1898–1946) After the Spanish–American War, the Philippines became a territory of the United States, because Spain opted to make peace with the United States. resulting in the 1898 Treaty of Paris (1898), where Spain negotiated on terms favorable to the US, allowing temporary American control of Cuba, and ceding indefinite colonial authority over Puerto Rico, Guam and the Philippine islands – as island possessions – to the US.

Arabian-horse era (1898–1955) Horseracing at the Santa Mesa Hippodrome (also known as the Santa Mesa Oval) resumed in the Philippines in 1899. In 1900, the MJC was moved to San Lazaro in the district of Santa Cruz, Tayuman in Manila (the MJC is currently known as the San Lazaro Leisure & Business Park). The site measured and had a grandstand and a 1200-meter or six-furlong track. In 1901, during the term of American Governor-General William Howard Taft, the "democratization of horseracing" allowed "people from all social strata" to go to the hippodrome during horseracing days. Betting was introduced and permitted in 1903. In 1930, foreign breeds such as Arabian horses were imported by the Bureau of Agriculture. Also in 1930, the Bureau of Animal Industry was established, and continued to import Arabian horses.

During this time, there were two other racetracks that tried to compete with the MJC: the Pasay Country Club (between Harrison Street and Vito Cruz Street) and another in Cebu. Neither lasted long.

Thoroughbred-era (1935–present) started

In 1935, the Philippine Legislature signed Act No. 4130Contrary to what the reference states, this is probably not an Act of the Republic, because the Philippines was a Commonwealth in 1935, an associated state of the United States; thus in this article, it is only referred to as "Act No. 4130" until another source can be found. This law authorized the holding of Sweepstakes Races by the Philippine Charity Sweepstakes Office, which replaced the National Charity Sweepstakes on October 30, 1934. The MJC became incorporated in 1937, becoming the Manila Jockey Club, Inc. (MJCI), transforming from a social association into a business.

In 1937, the Philippine Racing Club was established in Makati and became a competitor to the MJCI. Established by Filipino and American businessmen, the Philippine Racing Club (PRC) was also organized for the purpose of using horse breeds of "superior quality" for horseracing. In 1939, Commonwealth Act No. 156 was enforced. This Commonwealth Act was later amended through Commonwealth Act No. 156. The purpose of Commonwealth Act No. 156 was to include the Philippine Tuberculosis Society Inc. in the holding of yearly National Grand Derby Races, with the goal of promoting the breeding of local or native horses in the Philippines.

At the beginning of the 1940s, when Rafael Roces became the president of MJCI, he introduced two types of bet on the horseracing menu: the "daily double" bet and the ("key") bet. The daily double bet is unique to the Philippines, and is not offered in other countries. The daily double bet is still popular today.

While under American possession, the Philippines became involved in World War II (1939–1945). Although the war began in 1939, it only started to affect the Philippines directly in 1941 when the United States entered. MJCI had to close for the duration of the war. From 1941, the Gran Copa trophy of the MJCI was kept by Dr. Salustiano Herrera, an officer of the club. The invading Japanese armed forces used the premises of the MJCI as their barracks. After World War II, the MJCI's buildings were converted by the Americans into a facility with "a hospital and a garrison".

Herrera returned the Gran Copa trophy to MJCI and it was installed in the Trophy Room.

Independent-Republics era (1946–present) After the Second World War, the Republic of the Philippines was officially recognized as an independent nation on July 4, 1946.

Thoroughbred-era (1935–present) continued

1940s

In March 1946, the horseracing facilities of MJCI were returned to its members. It took two months of reconstruction before the racetrack became open to the public. In 1948, the Commission on Races was created by Republic Act. No. 309, a law signed by former Philippine President Elpidio Quirino to regulate the horseracing sector.

1950s In 1951, President Quirino further signed Executive Order No. 392, a presidential order that resulted in the creation of the Games and Amusements Board, which was given the responsibility to regulate public gaming. The Board was also tasked with enforcing gambling laws.

In 1957, after the MJCI was registered at the Manila Stock Exchange, off-track betting stations were established in Manila, Pampanga, Cavite, and other provinces with the aim of eradicating illegal bookmakers. Horseraces at the club were broadcast on television via VHF Channel 11.

1960s In 1964, the Philippines became the host of the Fourth Asian Racing Conference. In 1965, the National Stud Farm was created, through former Philippine President Ferdinand Marcos's approval of Republic Act No. 4618. There were three main purposes for the National Stud Farm. First was to prevent the illegal importation of foreign breeds of horses. Second was to improve the existing breeds of Philippine horses. Third was to perform other functions related to horseracing. In 1969, regulation of the "distribution of gross wages sales on horseracing" was started through the approval of Republic Act No. 6115. During the 1960s, the Philippines became a member of the Asian Racing Conference (ARC), which focused on how further to improve horseracing in the region.

1970s

In 1971, the MJC's Gran Copa trophy was lost in a fire. Today only a replica exists at the San Lazaro Leisure Park (SLLP). Despite the loss, the Gran Copa de Manila horseracing event continued during the 1970s. With San Miguel Beer as the sponsor, two divisions of the Gran Copa de Manila were being held. The event also became known as the San Miguel Beer Copa or SMB Copa due to SMB sponsorship.SMB's sponsorship would stop at the end of the 1990s when a competitor became the primary sponsor.

In 1972, both the MJCI and the PRC were given franchises to "construct, operate and maintain their own racetracks for a period of 25 years". This was made into law by the Philippine Congress with Republic Acts No. 6631 and 6632.

In 1974, the twelfth Asian Racing Conference was held in the Philippines. Also during 1974, the Philippine Racing Commission (PHILRACOM) was created through Presidential Decree No. 420. PHILRACOM was given the responsibility to promote and administer the development of horseracing in the Philippines as "a sport and a source of revenue and employment". The PHILRACOM was established through the efforts of the Metropolitan Association of Race Horse Owners (MARHO), an organization formed when a shortage in the supply of horsefeed, such as oats, occurred. On March 20, 1974, the two entities sharing authority over horseracing were the Philippine Racing Commission and the Games and Amusements Board (GAB).

As of June 3, 1977, through Presidential Decree No. 1157, the rate of taxes from horseracing (together with Jai-alai) was equivalent to 10% of an individual's Sweepstakes winnings or dividends corresponding to each winning ticket, after deducting the cost of the ticket.

1980s In 1988, Executive Order No. 194 reduced the level of horseracing taxes. This lowering of tax rates happened through the efforts of MARHO, which was headed at the time by Federico "Eric" Moreno, a Philippine justice.

1990s During the early part of the 1990s, computer technology was employed for the day-to-day operations of the MJCI.