Peters entered the Iditarod as a rookie in 1975, and won the race with a time of 14 days, 14 hours, 43 minutes, and 45 seconds. The two previous races in 1973 and 1974 were slower and more measured, and both were won in just over 20 days. The 1975 race was a close one, and he placed in the top 10 in the next five races. According to Peters, he earned the "Yukon Fox" nickname, "because I'd sneak away from all my competitors and have five or six teams chasing me" (Rozell, 2003). Even with a weak team of sled dogs, he regularly placed high in the standings.