Rabbit played major junior in the Western Hockey League. During his draft year in 2004–05, he recorded 67 points and was then selected in the 5th round, 154th overall, by the Boston Bruins in the 2005 NHL Entry Draft. Rabbit turned pro in 2006–07 season with Boston's American Hockey League affiliate, the Providence Bruins. However, after he was demoted to the ECHL in January, Vancouver Giants general manager Scott Bonner requested from the Boston Bruins that they send Rabbit back down to the juniors. Rabbit was then traded from the Saskatoon Blades for Kenton Dulle and a second-round pick in the 2008 WHL Bantam Draft. Returning to the WHL, Rabbit helped the 2007 Memorial Cup hosts, the Vancouver Giants, to the WHL Finals against the Medicine Hat Tigers with 20 points in 22 games, but they were defeated in seven games. In the subsequent Memorial Cup, the Giants met the Tigers again in the final game and won the CHL title. In 2007–08, Rabbit returned to Providence and recorded 26 points in 66 games. The following season, he improved to 34 points in 74 games. During the years 2008-2009', Rabbit began to progress statistically. Although netting 4 penalty minutes and 16 goals in '08-09, he still felt as though he was incapable of making it with the Boston Bruins. At this point, Rabbit's contract was up, so he was given the option of walking away. Although he wanted to continue playing for the Boston Bruins, he didn't feel suited, considering Boston was a pretty talented team. After leaving the Bruins, Rabbit was offered a good opportunity, with a well paying salary; playing for Nashville. In the 2009 off-season after the Bruins declined to extend a contract to Wacey, he was signed on by the Nashville Predators AHL affiliate, the Milwaukee Admirals on October 2, 2009. In the 2009–10 season, Rabbit appeared in 76 games with the Admirals, however failed to establish himself and posted a professional career low 18 points. Without an NHL offer, Rabbit left North America and secured a try-out as a free agent with Croatian team KHL Medveščak of the Erste Bank Hockey League on August 30, 2010. After only a week on trial on September 7, 2010, Rabbit was signed by Medveščak to a one-year contract with an optional second year. Wacey played with the Florida Panthers AHL affiliate, the San Antonio Rampage during the 2011–12 season helping them qualify for the Calder cup playoffs and beat the Chicago Wolves in the 1st round 3–2 and met with the Oklahoma City Barons by whom they were defeated 4 games to 1. On June 21, 2012, Rabbit returned to Europe, signing a contract with Norwegian club, Lørenskog IK of the GET-ligaen. After three standout seasons in Norway, Rabbit left as a free agent to sign a one-year contract with Japanese club, Nippon Paper Cranes of the Asia League Ice Hockey on July 28, 2015. After a further season in Italy with HC Pustertal Wölfe of the Alps Hockey League, Rabbit returned to play in North America for the first time in five years, in accepting an ECHL contract to play with new entrant the Jacksonville Icemen on August 31, 2017. Rabbit played in just 2 games to open the 2017–18 season with the Icemen before opting to return to Europe in agreeing to a one-year deal with Czech club, HC Dukla Jihlava on November 21, 2017. At the conclusion of the season, Rabbit returned to North America as a free agent and later re-united with the Jacksonville Icemen, agreeing to a one-year deal on August 14, 2018.
