The influence of bedding planes on the dynamic anisotropy and failure mechanisms of shales was investigated through a series of Brazilian disc tests using the split Hopkinson pressure bar system. These tests were conducted to understand how beddings affect the anisotropic strength and deformation characteristics of shales under dynamic impact. The fracturing process and failure patterns were observed using a high-speed camera. Additionally, to comprehend the fracture initiation and propagation mechanisms, stress buildup, stress shadow, and stress transfer were modeled using digital image processing and rock failure process analysis. The experimental and numerical results were consistent, allowing for an analysis of the effects of dip angle and spacing interval of beddings on crack initiation, propagation, and coalescence. Furthermore, numerical simulations captured the spatial location and energy magnitude of crack-induced acoustic emissions, providing insights into the energy release patterns during dynamic Brazilian splitting. The findings reveal significant differences in failure characteristics and mechanical mechanisms along different load directions. As the dip angle of the beddings increases, the area percentage of cracked beddings decreases, while the area percentage of cracked rock matrix increases. For a constant dip angle, the area percentages of cracked beddings and rock matrix fluctuate irregularly with increasing bedding spacing. These findings significantly enhance our understanding of the dynamic anisotropy and failure mechanisms of bedded shales, contributing to improved dynamic excavation and support design for layered rock masses.