The racetrack is a one-mile and 6.5-furlong right-handed circuit, with a 2.5 furlong straight and a slight uphill finish. The main business of Fairyhouse racecourse is betting on the races known traditionally in parts of Ireland as turf accountancy. Admission to Fairyhouse race meetings is free to under-16s and various other promotions such as concession rates for OAPs and seasonal festivals (i.e., Winter Festival, Easter Festival, etc.) It also hosted the first three Witness music festivals from 2000 to 2002 inclusive.

However, on a Sunday, when there are no race meetings, it opens as a market selling local produce ranging from saddlery and tools to fresh vegetables, arts and crafts products, and even electrical goods. The market also accommodates car boot sales. The course is also a premier venue for a musical.

The racetrack also has The Arkle Room, a private function room overlooking the parade ring, and easy access to the viewing stand. There are also private hospitality suites on the top floor of the Powers and Jameson Stand, ideal for Corporate Hospitality, Hen parties, Stag parties, fundraisers, or product launches. It also has Bobbyjo Bistro, named after the 1998 Irish Grand National Winner, situated on the first floor of the Powers Stand with up to 170 people capacity.