Joey Chestnut Favored at Staggering Odds for Fourth of July Hot Dog Contest

The greatest champion in the history of competitive eating is once again the heavy favorite.

For the better part of the past two decades, the Fourth of July has meant one thing in the world of competitive eating: it’s Joey Chestnut’s time to shine.

Since 2007, the undisputed greatest hot dog consumer in the history of the sport has won 15 of the past 16 editions of the famous Nathan’s Hot Dog Eating Contest, held annually on Coney Island. Given his track record, it’s no surprise that Chestnut enters the 2023 version as the heavy favorite. But the degree to which the 39-year-old is expected to lap the field again might scare even the most confident bettors away.

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Chestnut is a -4000 favorite to win this year, according to DraftKings Sportsbook, meaning that a $4,000 wager would net just $100. Even for as dominant a performer as Chestnut, that takes a certain amount of courage to risk that much money for such a relatively small payoff.

Chestnut also has an over-under line of 72.5 hot dogs. Last year, he won with a total of just 63 dogs and buns, but has topped 72 three times at the competition.

The 2023 Nathan’s Hot Dog Eating Contest is scheduled for Tuesday, beginning with the women’s competition at 10:30 a.m. ET, followed by the men’s event at noon.