The one thing that racetracks have in common with base turn procedures is that both are normally regarded as initial approach segments. Therefore, the outbound timing can be - and in all of the charts I've seen around the world, invariably is - longer than 1 minute. Two and three minute outbound timings are fairly common.
Therefore, the concept of "triple drift", as is often applied in a standard holding pattern, is not a good idea in an initial approach segment. Clearly, it is necessary to apply a correction for drift and/or timing (when approrpiate), but using a "triple drift" concept in the o/b leg of a racetrack could mean that your actual ground track will explore the outer extremeties of the protection area.
While this could obviously have consequences in relation to obstacles, ATC also apply separation based on the size of the primary protection area, plus a mile (I think). Therefore, while you might not hit a mountain, you could be giving another pilot some anxious moments.