Joey Chestnut, the hot dog-and-bun-eating GOAT, is the overwhelming favorite to win his 16th Mustard Belt overall and eighth in row Tuesday at the Nathan's Hot Dog Contest in Coney Island, Brooklyn.
Caesars Sportsbook on Monday had Chestnut listed as a -3,000 odds-on favorite to down the most hot dogs and buns during the messiest 10 minutes in sports. Every other contestant is listed at +1,400 (14-1) or longer. The over/under on the number of hot dogs and buns eaten by Chestnut is 72.5 at some sportsbooks.
Chestnut is such a big favorite at a few sportsbooks that bettors must risk $4,000 on him to win a net $100. On Monday, DraftKings reported taking a $2,000 bet on Chestnut that would win a net $50 if he is victorious again. An upset, however, would cost the bettor the two grand.
Despite the short odds, Chestnut has attracted by far the most bets to win the contest, according to Caesars Sportsbook oddsmaker Joey Feazel, who called Chestnut "the Tom Brady of hot dog-eating."
The women's division is top-heavy, too, with defending champion Miki Sudo listed as an even bigger favorite than Chestnut. Sudo, who has won eight of the past 12 women's hot dog contests, is listed as the -5,000 favorite.
The contest, annually held on the Fourth of July, has had a cult following in the sports betting community for years, but it has only been offered by American sportsbooks in some states recently. Arizona, Colorado, Indiana, Louisiana, Michigan and New Jersey are among the states that allow betting on the contest. However, New York, where the contest is held, allows sportsbooks to offer betting only on "sporting events."
While most of the bets on the contest are small, FanDuel reported taking a $2,240 bet on Chestnut to eat over 71.5 hot dogs.
The women's contest will be broadcast at 10:30 a.m. ET on Tuesday on ESPN3, followed by the men's contest at 12 p.m. ET on ESPN2.