I just realized that if you choose License Settings on the main menu, you get all kinds of stats about your play. Some of mine:
Overall Rating: B
Distance Traveled: 1938
Total Race Count: 260
Total Battle Count: 38
WFC VS Rating: 5926
Wins/Losses: 345/306
% Of Time In 1st: 30%
WFC Battle Rating: 5451
Wins/Losses: 79/55
I suck.

You’ve had 650 online races? Holy shit!
No, it counts each individual racer in a race as a win or loss.
For example, if you finished 3rd in a race with 12 people that would be 9 wins and 2 losses.
Nowhere near 650 races. Probably closer to 60.