Richards was born in Bath. As a jockey he rode for Johnny Marshall's yard at Chatton in Northumberland, and later was first jockey for Major Renwick. After a fall at Perth in which he broke his back, Richards moved to Town Farm, Beadnell and started a horse dealer and livery stable business. In 1964, Richards set up a stable of eight horses winning the Scottish National with Playlord in the colours of the Newcastle millionaire builder Philip Cussins.
In 1968 Richards moved to Greystoke near Penrith where he stayed for the rest of his life. He persuaded Cussins to buy Titus Oates for a then record National Hunt price. The horse proceeded to win the Cheltenham Gold Cup, the King George VI at Kempton and the Whitbread Gold Cup at Sandown.
Richards saddled more than 2000 winners including the Grand National with Lucius (1978) and Hello Dandy (1984). Three times he achieved over 100 winners a season a figure bettered only by Martin Pipe. The great horse One Man was bought from the dispersal sale of Arthur Stephenson (q.v.) and won the King George twice, on the second occasion in record time. Though a hard man, Richards left Aintree in tears after One Man was killed in a fall.