The split, in one paragraph
Racing TV (subscription) carries the RMG group of courses, including Cheltenham, Aintree and every Irish track. Sky Sports Racing (included with Sky's sports packages, or via NOW) carries the ARC group, including Chelmsford, Ascot's ARC-aligned fixtures and a long international card. Before paying for anything, write down the five courses you care about most and check which side of the fence they sit on: that single list answers the question for most people.
The traps, plainly
Two things to know before a free trial. First, Racing TV's trial converts into a rolling commitment and cancellation is by phone, on weekdays: diary the end date the moment you start it. Second, if you mostly want replays rather than live racing, check what is already free before paying: many course replays are available at no cost through the sport's own channels, and our guides link the free route wherever one exists.
The cheaper answers most people miss
If you bet even occasionally, most large bookmakers stream every British and Irish race free to logged-in customers with a small balance, which for casual watching beats both subscriptions. And terrestrial ITV covers around a hundred of the biggest days free, including the whole of Cheltenham. Between those two, a casual fan can watch a full season without paying either channel a cent.
What we are building here
A course-by-course answer: pick your courses, see your cheapest legal watching route for the season. Until that tool ships, the paragraphs above are the honest version.