[1][2] It was first held in 1959 after NASCAR founder Bill France Sr. wanted to take the sanctioning body away from the Daytona Beach and Road Course and onto a permanent racing facility to allow NASCAR races to continue being held in Daytona Beach.
[2][3] It usually covers 200 laps over a total distance of 500 mi (800 km),[1] but accidents and other incidents have meant that the race has been extended through the use of overtime rules on 12 occasions.
[5] Each winning driver is presented with a replica of the Harley J. Earl Trophy in Victory Lane,[6] an estimated $2.5 million in prize money,[a][9] a championship ring as well as a black leather jacket,[10] and their car is put on display in race-winning condition in the Motorsports Hall of Fame of America museum adjacent to the track for 12 months until the following year's Daytona 500.
[13] The winner of the first race was Lee Petty in 1959, and the most recent victor was William Byron in 2025.
[1] Richard Petty holds the record for the most victories with seven, with Cale Yarborough in second place with four wins.