Five Flags Speedway is home of the Snowball Derby, which was started in 1968 by the late Tom Dawson, the Snowball Derbyª has been the premier short track event each year since it's beginning, bringing drivers such as Mark Martin, Rusty Wallace, Darrell Waltrip, Bobby Allison and more.

Each year, all the best drivers from across the country show up at the famous half mile track just to try to make the final 38 car field, and the driver that comes out on top after 300 laps can proudly say that he beat the best of the best.