Three-times champion Jeff Gordon knows a thing or two about winning the prestigious Daytona 500 and has predicted a free-for-all in the final lap to decide today's title.

"There's no way to pick a favourite," Gordon told reporters in the build-up to the 51st edition of the event widely known as "The Great American Race".

"A lot of guys were conservative," he said, referring to Thursday's 150-mile qualifying races.

"You'll see a lot more risk-taking (today). It will come down to a shootout at the end."

A four-times NASCAR champion, Gordon won his qualifier in a Chevrolet after taking the lead from Tony Stewart for good on lap 58 of the 60-lap event.

With today's winner set to take home around $1.5 million in prize money, Gordon is prepared for a battle royale when the final flag looms at the Daytona International Speedway.

"It's usually a short run," he said.

"It shows me that anybody can win the race, if you make the right moves."

Winless in his last 41 points races, Gordon is hoping to master the Car of Tomorrow, a larger vehicle designed for cost maintenance, safety and competitive balance.

Other drivers such as Kyle Busch, Carl Edwards and Jimmie Johnson, who is bidding for an unprecedented fourth consecutive NASCAR Cup title, have excelled with the 3,400-pound (1,542 kg) stock car.

Busch, driving a Toyota, won his qualifying race on Thursday after going high up the track to block Mark Martin's determined last-lap charge.

Speeds at Daytona will be limited by a NASCAR-mandated restrictor plate, a device that slows engines down from 900 horsepower to around 450.