They're at the Post

From the Box:

"The exciting new game that captures all the fun and suspense of a day at the track. 8 complete races on 4 LP records computerized for over 190 different finishes. The records are specially designed so that no one can pre-determine the race results.

the voice of racing Daryl Wells"

This game plays just as being at the race track. It includes racing programs, bet chits, banker's records and cash. Any number of players can bet on the various horses for each race. When the betting window is closed the LP is put on and the needle dropped and on comes the racing voice, excitingly giving a entire race breakdown.

Each record has more than one spiral on them, so when the needle is placed, no one knows which race will play.