Waters started his racing career in go-karts in 2001 after competing nationally and winning multiple state championships and winning the J.C Maddox Trophy twice, Waters moved into open-wheelers. Starting in
Formula Vee in 2009, before progressing to the
Australian Formula Ford Championship in 2010. He claimed podium finishes in three races and finished sixth in the championship standings, which earned him the Rookie of the Year title. Waters went on to win the championship the following season, taking seven race wins. Waters drove for
Kelly Racing in the
V8 Supercar Development Series at
Sandown at the end of the
2011 season and continued on with the team's new initiative,
Dreamtime Racing, in the
2012 season before the team was withdrawn for financial reasons. Also in 2011, Waters won the Shannons Supercar Showdown, a reality TV program run by Kelly Racing where ten drivers are given the opportunity to compete for a drive in the Bathurst 1000. Waters beat British driver
Andrew Jordan in the final episode to win the drive alongside
Grant Denyer. The pair failed to finish the race, however, after Waters hit the wall at Forrests Elbow and damaged the car. Waters returned to the Bathurst 1000 in 2012 to drive with
Jesse Dixon, the winner of the 2012 edition of the Shannons Supercar Showdown, after Denyer injured his shoulder prior to the race. Waters and Dixon were the youngest driver combination in the race's history and finished in a respectable twentieth position. In the
2013 Dunlop V8 Supercar Series, Waters drove for Minda Motorsport in a VE Commodore, finishing in tenth position in the Championship. driving a
Ford Mustang GT for
Tickford Racing He again drove at Bathurst in 2014 alongside
Jack Perkins and claimed a twelfth-place finish. That same year, he finished runner-up in the
Dunlop Series. In 2015, it was announced he would join
Prodrive Racing Australia for the V8 Supercar Enduro Cup and compete for the team in the Dunlop Series. Waters was runner-up with
Chaz Mostert at the Sandown 500 in a one-two finish for Prodrive Racing Australia. At the Bathurst 1000, Mostert had a massive crash, and the car was unable to be repaired, forcing the team to withdraw the entry from the race. Waters replaced Mostert at the Gold Coast, New Zealand, and Phillip Island events while Mostert recovered from injuries sustained in the Bathurst crash. Waters was crowned winner of the
2015 V8 Supercars Dunlop Series at Sydney Olympic Park, beating reigning champion
Paul Dumbrell. It was announced in early March 2016 that Waters would race full-time in the
2016 V8 Supercars Championship with
Prodrive Racing Australia driving the No. 6
Ford FG X Falcon, with Mostert moving to the No. 55
Rod Nash Racing customer car. In 2017, Waters won his first supercars race at the
Sandown 500 alongside
Richie Stanaway, who also achieved his first win in supercars. In 2025 at the
Sydney 500 Waters won all three races, secured all three pole positions and three fastest laps. During the second race on Saturday, he won over
Broc Feeney by 0.0308 seconds, making it the closest race finish since the
1983 Adelaide International Raceway round.
NASCAR in 2024 In late March 2024, it was announced that Waters would make his debut in the
NASCAR Craftsman Truck Series at
Martinsville Speedway for
ThorSport Racing. Two months later, it was announced that Waters will make his
NASCAR Cup Series debut at
Sonoma Raceway, driving the No. 60
Ford for
RFK Racing. Waters started 31st but did make his way inside the top-fifteen during the race before he got caught up in a wreck that would eventually end his race after 66 of the 110 laps relegating him to a 35th place finish. In June 2025, it was announced that Waters would compete in the inaugural
Lime Rock Craftsman Truck Series race for ThorSport Racing. ==Career results==