Gallop Racer 2006, is the perennial update of the Gallop Racer series, with the standard gaming modes: Exhibition and Career, along with new modes such as Memorial Quest, where players can partake in over a 100 classic horse races from past years and Field of Legend, where players can test their created horses against actually horses from past years of horse racing. This entire setting is set in a theme park-style arena called Gallop Racing Square.

Not only can players create their own horses, but they can also race classic and legendary horses from previous years in the history of horse racing. The gameplay is virtually the same as previous versions, pressing buttons at a certain point in time to urge the horse while racing, with several gauges to monitor such as the horses stamina, their position in the race as well as their mental condition. Players can also bet in races, with a true feel of betting simulation, figuring in weather conditions, the horses conditions as well as the horses stats.