Waters contested the 410 SA Sprintcar title – held at the Victorian venue for the first time – as part of a series of planned outings with Chief Racing across the summer.
The 30-year-old showed strong speed to place third in Heat 1 and the top six Dash only to crash out on the first corner of the A-Main.
“It was awesome to be back in the car,” Waters said. “First night of the season started really good, felt comfortable in the car.
“Great to go quick time. Went from fourth to third in the heat… in the Dash did not get the start as good as I would like, but still ended up third.
“The final, [I] just tried to go for second and ended up on pole and then, yeah, tipped her over.
“That is part of the sport we play in and part of the fun. A lot of positives to take out of tonight.”
The SA title was won by Bendigo’s Rusty Hickman.
Waters will continue his summer of speedway this weekend at Premier Speedway, Warrnambool.