The basic admission price is HK$10, which is for standing-room only at the race track level, which for 2 hours of racing may be more standing than you want. The is also a seated public area where tickets are HK$20.
The races generally do not sell out in advance, but if you are planning to attend a major race day it may be a good idea to check in advance, to be sure.
With the tourist ticket, you are likely to get a better view. This ticket is available by showing your passport at the Badge Enquiry Office at the main entrance to the Members' Private Enclosure at Happy Valley.
An even easier way get this ticket is to go to one of the off-track betting centers like the one near the Star Ferry concourse in Central or on Nathan Road in Kowloon where you can buy the badges up to 10 days in advance.
You can also walk from the MTR or take the street tram, but these options are likely to be crowded. The easiest way to get back is to walk a bit away from the race track and either take a taxi or a bus or walk to the MTR.
It may be best to take a taxi to the Members Enclosure. Show your passport and then you can buy a ticket.
The Members Enclosure area is right next to the walking ring / winners circle so you can get a great view of them and also of the horse races. It is quite an interesting setting being right in the city. Get the tourist badge, it is not expensive and worth it.
The Holiday Inn Express is a recommended stay for the Happy Valley Racecourse, it is about a 10 minute walk from there. Most hotels should offer a street map with directions to the racecourse.
Inside the racecourse you can find food shops, a beer garden and plenty of seating. Races are held virtually every Wednesday during racing season, which is most of the year. The races start about 7 P.M. and run till around 11 P.M.
You must be 18 years of age to enter the racecourse, no children are permitted. You are allowed to bring a camera and take pictures of the racecourse and horses.
Parade Ring
This is the best place to see horses up close before the race starts. Here you can inspect each horse and even take pictures if you desire. The parade ring at Happy Valley is state of the art. It features 4 balconies which seat 1,400 spectators. It also features a retractable roof so you can see the horses well, whether it rains or not.
The Beer Garden
The Beer Garden is located in the forecourt and offers an excellent view of the races. A popular place to socialize and drink ice cold beers during the races. The beer garden offers a friendly outside feel and includes Barbeque Foods that can be purchased if you get hungry. A great place to meet and mingle at Happy Valley.
Gift Shop at the Races
If you are visiting from out of town you will likely want to pick up a souvenir to commemorate your trip. Featuring lots of horse and racecourse event themed products. The gift shop is a great place to find a keepsake from Happy Valley.
Hong Kong Racing Museum
Located on the 2nd floor, Happy Valley Stand. The racing museum is a great place to learn about the history of horse racing in Hong Kong. 6,000 square feet in size the museum houses historical exhibits and photos which date back as far as the 19th Century. The museum also features a Souvenir Shop.
There is a virtual tour of Happy Valley racecourse at this link. Just click on take a virtual visit.
Looking for more things to see and do while in Hong Kong, you can find that here.
Adrenaline Bar
Aptly named this bars innovative design will keep you entered during the races and up til midnight when they close. The balcony is a beautiful place to relax, enjoy a cocktail and get a great view of the horses as they cross the winning post.
Come at 10 p.m. and you get free admission, its a great way to wind down the evening. They also offer live music with beautifully colored lighting to stimulate your adrenaline. A must see if you are planning to visit Happy Valley.