The race was won by Rag Trade, who was the fourth winner trained by Fred Rimell and the second winner owned by Pierre Raymond Bessone. Red Rum finished second for the second year in a row. Rimell's fourth winner gave him the outright record for training most National winners which he had previously shared with six other trainers. His record was equalled by Ginger McCain in 2004.
In an interview eleven years after the race, Red Rum's trainer, Ginger McCain expressed that he felt jockey, Tommy Stack had made a tactical error in waiting until the penultimate flight before attempting to race to the finish as is, McCain noted, the text book way to ride a National. He instead felt that if Stack had allowed Red Rum to "kick on from the fifth last flight he would have stretched his rivals and outpaced them". McCain was also quick to point out how much easier it is to ride the Grand National in your head from the stands and praised his rider for a "marvelous effort" The tactics described by McCain turned out to be those employed by Stack in 1977 when the horse won a record breaking third Grand National.