racewayEnglishOxford New American Dictionaryraceway /ˈrāsˌwā, ˈreɪsˌweɪ / ▸ noun mainly North American 1 a water channel, especially an artificial one of running water in which fish are reared. ▪ a groove or race in which bearings run. ▪ a pipe or tubing enclosing electric wires. 2 a track for trotting, pacing, or harness racing. ▪ a track for auto racing.