Daly, an Indiana native, made his full NASCAR Cup debut last year at the Charlotte Roval and was classified 34th, three laps down on winner Christopher Bell.

He will drive the #50 Chevrolet Camaro for The Money Team once again as an open entry, in an increasingly strong entry list for the 500 on 19 February.

With no charter, Daly will have to fight his way into the 40-car field through qualifying and the preceding duels. Meyer Shank Racing IndyCar driver Helio Castroneves was originally rumoured to be in contention for the ride, but the four-time Indianapolis 500 winner ruled it out.

Daly has started nearly 100 IndyCar races, including nine of the last 10 Indianapolis 500s. His best result came last year, finishing sixth in the blue riband IndyCar race. The year prior, the Ed Carpenter Racing driver led a race-high 40 laps.

His NASCAR experience is limited to road courses and intermediate tracks, with four total starts between the three national divisions. BitNile.com will serve as a primary sponsor on the car.

"We’re going to DAYTONA!" Daly wrote on Instagram.

"Really excited to make an attempt to qualify for the #Daytona500 next week!

"This will be an enormous challenge trying to race our way in with absolutely no practice but to have a chance to give it a try is something I could not turn down."

At the moment, there are six open entries who are known to be attempting the 500, which means two will be going home before the race.

Seven-time NASCAR Cup Series champion Jimmie Johnson (Legacy Motor Club) tops the list of drivers not locked in. Others include Travis Pastrana (23XI Racing), Chandler Smith (Kaulig Racing), Zane Smith (Front Row Motorsports), and Austin Hill (Beard Motorsports).

Last year, MBM Motorsports pair JJ Yeley and Timmy Hill failed to make the cut into the Daytona 500 on qualifying pace, having been outpaced by Noah Gragson and Jacques Villeneuve in the timed session despite beating them in their respective later duels.