Lameness kept Gun Bow out of racing at age two and as a result of American tax laws at the time, Elizabeth Arden sold Gun Bow in December 1962 to Harry Albert and Mrs. John Stanley of New Jersey who raced him under the name Gedney Farms. Conditioned by future Hall of Fame trainer Edward A. Neloy, on the track at age three he won six of his eighteen starts. The colt's most significant 1963 win came in the ungraded Narragansett Special at the Narragansett Race Track in Pawtucket, Rhode Island. However, by age four he had developed into a powerful runner and a major rival for the now legendary Kelso.
In his 1964 season, Gun Bow traveled across the United States to compete. He raced in California as well as at Arlington Park in the Midwest plus at tracks on the East Coast from New York thorough Florida. He won eight of his sixteen starts including three important graded stakes races on the West Coast and had wins in major East Coast races such as the Woodward Stakes and defeated Kelso by twelve lengths in the Brooklyn Handicap while setting a new track record for 10 furlongs. He gave the U.S. a one-two finish against an international field when he came second to Kelso in record time in the Washington, D.C. International. In September, his owners syndicated 60% of Gun Bow to a group led by John R. Gaines which included former owner, Elizabeth Arden. For the 1964 racing year, Gun Bow had earnings of more than $580,000.
Racing at age five, Gun Bow won three of eight starts, claiming his second straight San Antonio Handicap in California plus the Metropolitan and Donn Handicaps in the East. Retired to stud duty after his 1965 racing season, his offspring met with modest racing success. Notably, his outstanding daughter Pistol Packer won several Group One races in France including the 1971 Prix de Diane. In 1974 Gun Bow was sold to a breeding farm in Japan.
In 1999, Gun Bow was inducted in the United States' National Museum of Racing and Hall of Fame.