And their off! Every year The Ruidoso Downs Racetrack horse racing season presents their opening day and the horse racing continues through Labor Day with the running of the All-American Futurity, the richest quarter horse race in the world! Click here for the 2008 Horse Racing Schedule. Ruidoso Downs Racetrack is in Ruidoso Downs, New Mexico and features two tracks, a quarter horse sprint track and an oval track for both thoroughbred and quarter horse racing. The Racetrack also features the 20,000 square foot Billy the Kid Casino, two restaurants, Billy’s Bar and Grill and the Billy the Kid Buffet and Billy’s Race Book, the newest addition to the Billy the Kid Casino.