F-Zero X implemented the most popular form of Boosting. Starting from the second lap, the narrator will say "You got boost power" while the screen shows "Boost Ok", also, the life gauge changes it's color from red to green; player may Boost as much as he or she desires, however, this gradually consumes a portion of life energy. You can Boost by pressing the B button for increasing the speed around 100 km/h for each boost, while consuming some health.
Used it in my game, worked well as a gameplay mechanic based on risk + reward (skill). I used energy pickups on track to regen energy:
Also works great in a upgrade system for player. eg: boost=1.05x speed, boost=1.07x speed, etc etc.