Nathan's Hot Dog Eating Contest Odds (2008)

Oh yes, it's that time of year again - the 4th of July.  Fireworks, outdoor barbeques, flag waving patriots.....and hotdog devouring Japanese?  Over the years, the 4th of July (Independence Day in the United States) has become synonymous with the world famous Nathan's Hot Dog Eating Contest.  Amazingly, online gambling sites perform quite well taking bets on the event.

Bookmaker.com was offering a line of a whopping 68 1/2 hot dogs to be eaten at the 2008 Nathan's Hot Dog Eating Contest in Coney Island, New York.  You can bet the Over/Under here.  The under was -250 while the over promised a potential payout of $200 for every $100 bet (or $20 for every $10 bet).

Legend has it that the hot dog contest has been held annually at Nathan's Famous on the corner of Surf and Stillwell Avenues in Coney Island since 1916, according to Fox 5 New York. 

The contest traditionally lasts 12 minutes and includes up to 20 big eaters.   This year's event is reportedly going to be cut down to 10 minutes.  It was unclear whether Bookmaker.com had factored these reports into its current line as last year's winner, Joey Chestnut, gulped down 66 franks.

Prior to Chestnut's record - Japan's Takeru Kobayashi had been the crowning champ for five years straight.  Both Kobayashi and Chestnut must participate in order for Bookmaker.com's wagers to be valid.

And what are the prizes for the fastest eater besides a free lunch and notoriety - not to mention national pride since this contest has now become a sort of USA vs Japan type of event?

1st Place: $10,000
2nd Place: $5,000
3rd Place: $2,500

The 24-year old Chestnut - who likely has a long hot dog eating contest career ahead of him - will be arriving in New York from his home town of San Jose, California.

Chestnut trains by fasting and by stretching his stomach with milk and water.  Three days before winning a chicken-eating contest in Boston, in November 2005, Chestnut drank gallons of water in under one minute and ate buffalo wings to get his stomach accustomed to them. As of July 4, 2006, his competition weight was 220 pounds (100 kg).

The San José State University student entered the competitive eating scene in 2005 with a break-out performance in the deep-fried asparagus eating championship, in which he beat high-ranked eater Rich LeFevre by eating 6.3 pounds of asparagus in 11.5 minutes.

Tim "Gravy" Brown will also be participating.  He ranks 13th on the International Federation of Competitive Eating circuit.

Most competitive eaters aren't obese, according to the Chicago Tribune. Brown (200 pounds and 5 feet 11 inches tall) runs 5 miles a day five times a week: "It builds endurance, and an eating contest is endurance. It might be 10 minutes of eating, but it's 10 minutes of hell."

And there are techniques, The Tribune points out.

Competitive eaters override brain signals that tell them they're full for example. 

"You have to trick it," says Brown, who also packs an iPod to drown out announcer prattle with books on tape or punk rock. "You don't want to know if you're winning or losing. You just want to concentrate." His brain and gut rewired, Brown finds: "I never get full. I don't get hungry. But that doesn't mean I don't love to eat."

Then there is Takeru Kobayashi, who helped coin the term "Japanesing".  The 110-pounder in 2001 separating dog and bun, then gulping franks in twos to shatter the previous Nathan's Hot Dog Eating Contest record.

For the online gambling sector, it remains to be seen what type of money will come in from this voracious event.

"Gamblers are hungry for something to bet on this time of year," Gambling911.com's Payton O'Brien stated.  "There is baseball and then there is....well, the 2008 Nathan's Hot Dog Eating Contest."

And the contest usually brings in more money the 4th of July than does baseball.

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Christopher Costigan, Gambling911.com Publisher CCostigan@CostiganMedia.com

Originally published July 2, 2008 10:58 am EST