Joey Chestnut favored to win 8th straight Mustard Belt

Joey Chestnut, the hot dog and bun eating GOAT, is the overwhelming favorite to win his 16th overall and eighth straight mustard belt Tuesday at Nathan’s Hot Dog Contest in Coney Island, Brooklyn.

At Caesars Sportsbook on Monday, Chestnut was listed as the favorite at -3,000 odds for most hot dogs and buns in the dirtiest 10 minutes in sports. Every other competitor is listed as +1,400 (14-1) or higher. At some bookmakers, the over/low limit on the hot dogs and buns consumed by Chestnut is 72.5.

Chestnut is such a big favorite at some sportsbooks that bettors have to bet $4,000 on him to win a net $100. On Monday, DraftKings reported that he had placed a $2,000 bet on Chestnut that would net him $50 if he won again. A surprise, however, would cost the bettor two grand.

According to Joey Feazel, oddsmaker at Caesars Sportsbook, who dubbed Chestnut “the Tom Brady of hot dog eating,” Chestnut has attracted by far the most bets on winning the contest despite the low odds.

The women’s division is also top-heavy, with defending champion Miki Sudo considered an even bigger favorite than Chestnut. Sudo, who has won eight of the last twelve women’s hot dog contests, is listed as a -5,000 favorite.

The competition, which takes place annually on July 4th, has enjoyed cult status in the sports betting community for years, but has only recently been offered by American sportsbooks in some states. Arizona, Colorado, Indiana, Louisiana, Michigan and New Jersey are among the states where wagering on the contest is allowed. However, in New York, where the competition is held, sportsbooks are only allowed to offer bets on “sporting events”.

While most bets on the competition are slim, FanDuel reported that he placed a $2,240 bet on Chestnut to eat over 71.5 hot dogs.

The women’s competition will be televised Tuesday at 10:30 am ET on ESPN3, followed by the men’s competition at 12:00 pm ET on ESPN2.