Seven

Dividing the horses in a group of five, we will have five different groups of horses. A race will be conducted separately for each group which will help us find the fastest three horses in every group. We have used five different races till now. 

Now we can have a race among the winners from every race which will help us determine the fastest of them all. We have used the sixth race.

The second fastest horse can be the one who came second in the sixth race or the second fastest horse in the finals winners' first race.

If we look at the first case, the third fastest horse can be the third fastest horse in the sixth race or the second fastest horse in either the fastest or second fastest horse first race.
If we look at the other case, the third fastest horse may be the second fastest in the sixth race or the third fastest in the final winners' first race.

If you calculate our assumptions, we have five more horses to race (seventh race) and determine the second fastest and the third fastest horse.