I also remember a similar one slightly later called Steeplechase.
Yes ,I remember these days when we used to watch horse racing on tracks as a part of a weekend.As I was novice in handicapping ,I used to take horse racing handicapping tips from professional handicappers .
Yep I think steeplechase rings bell.....still can't find anything on it though...another bit of info is that the little cartoon horses ran from right to left...ancient lights, dembyke, grey god, helmsman, hindenberg, windy gorge, anglesey, black leg, svengali...were just a few of the names of the horses but there were many more.
I found one! However it costs over 7 grand...
I remember seeing in seaside arcades in the mid 80s to early 90s a horse-racing game--probably several different types, but I thought the ones I saw showed actual races from US and Australian racetracks. I don't know if I am getting confused but I seem to remember that the race commentators in the videos had either US or Aussie accents, and at the time I thought that there was a laserdisk or something similar inside the machine that randomly picked a race from probably thousands in its memory and you bet on it. The races were quite short, I believe.