Richard Petty captured the pole position for the event with a speed of 175.165 mph. After leading the first six laps, he relinquishing the lead to Paul Goldsmith. Petty suffered from tire problems early in the race, yet work by his pit crew, and having one of the fastest cars allowed him to work his way back to the front of the field after being two laps down. Petty said, "We was the quickest car all week long. That car, again, like the '64 car, was just a real fast car, and we just outrun everybody." Petty returned to the lead on lap 97 when he overtook Goldsmith.
Petty went on to lead a race high 108 laps by the time the checkered flag fell. The race was shortened by two laps due to rain. The victory by Petty was his second at the Daytona International Speedway, having won the event in 1964. Richard Petty's victory at the 1966 Daytona 500 was the first and only time that he captured the pole position, despite winning the event a record seven times.
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