I don't race, but I do watch...
1. Some may think, "why would you pay to race, when you can go out late at night, show off, and have fun for FREE"
2. The track closes to early. Notice that most races happen late at night/early morning.
3. The closest track from my house is basically an hour away. For some ppl, I can see why they would lose interest going to the track. Most don't want to drive that far. Paying for gas b/c you will be guzzling it , paying to get in, and paying to race if you decide to.
4. Risk factor- some ppl just like the risk, especially young teens and young adults. I have to admit, it was pretty exhilerating trying to out run the cops.
Here's one example: (keeping it brief)
There was this hangout spot in my neighborhood that had about 30-40 cars meeting every Wednesday night. Mostly young teens and a few adults. This was near the beginning of the new college year, and I decided to bring my one of my roommates so we can chill get know each other. That same night a fight broke and cops were coming from everywhere. A few of the muture ones there, including myself, decided to just chill by our cars and not go and watch the fight. Plus it ended across the parking lot like 100 yards away.
The other guy and I heard faint sirens in the backgrounds. Most of the ppl watching the fight got caught and were issued tickets, citiations, etc... While the smart ones who stood by there cars got away, but I had to cut off a police car to get away which was aiming straight for me. Me and the cop was basically playing chicken and I had more guts.( I WILL NEVER DO THAT AGAIN. IT WAS STUPID AND DANGEROUS)
I think I was the last car to make it out since I made that brave move. Everyone else was blocked in.
Well, next Wednesday came and there were like 100-150 cars. I was like

The only reason why I went again was because my roomate wanted to go SOOO bad. He told me that some of his friends were begging to come along with me.
So it seems like people also do it for the risk and adrenaline rush.