Nathan's Hot Dog Eating Contest prize money: How much will the winner make in 2023?

The Nathan's Hot Dog Eating Contest is a hallowed Fourth of July tradition. Is there a better way to start a day full of grilling than to watch a bunch of people absolutely house boiled hot dogs?

Every year, competitors line up to challenge Joey Chestnut in the men's bracket and Miki Sudo in the women's. Sudo reclaimed her title last year after not competing in 2021 due to a pregnancy, eating 40 dogs in the allotted 10 minutes. Chestnut, meanwhile, is the six-time reigning champion. His last loss was in 2015 to Matt Stonie.

What is the reward for this display of an iron stomach? Aside from bragging rights, there is a prize money pool to be divided among the top five finishers of both the men and women's divisions.

Chestnut and Sudo enter as the overwhelming favorites to win once again, and it's hard to imagine betting against them. Both have been so dominant for so long, and 2022 only reasserted that dominance.

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As the most prolific eaters in Nathan's history, they've both made solid coin over the years. Here's what to know about what the winners of the Nathan's Hot Dog Eating contest make for their victories.

Nathan's Hot Dog Eating Contest prize money

Major League Eating has typically given winners in the men's and women's competition a top prize of $10,000 each, with incrementally smaller prizes going to the remaining eaters in the top five.

The total prize pool is $40,000. Here is how the purse has traditionally broken down: 

• First place: $10,000
• Second place: $5,000
• Third place: $2,500
• Fourth place: $1,500
• Fifth place: $1,000

For the men, Chestnut will be trying to defend his title, while Sudo tries to start a new winning streak after reclaiming the top spot last year.

The winner of the men's division also gets the mustard belt and the winner of the women's side gets the pink mustard belt.

MORE: What happens inside an eater's body after the Nathan's Hot Dog Eating Contest?

What is Joey Chestnut's net worth?

Chestnut is perhaps the only man on Earth who has made competitive eating a viable lifestyle.

The 14-time winner of the Nathan's Hot Dog Eating Contest — not to mention countless other Major League Eating competitions — has a net worth of $2.5 million, according to Celebrity Net Worth. According to the site, he can make between $250,000 and $500,000 per year from winning competitions and sponsorship deals. 

In addition to his winnings and sponsor money, Chestnut has his own line of condiments for hot dogs, brats, sausages, wings and sandwiches.

MORE: Full list of Joey Chestnut's 55 competitive eating world records

Nathan's Hot Dog Eating Contest past winners

Chestnut set a record at the 2021 event with 76 hot dogs, but fell short of that mark last year with 63 in 10 minutes.

Chestnut will be back on Coney Island in 2023 to try to win for the eighth consecutive year, while Sudo will return looking for her second straight win after eating 40 in 2022.

Below are the contest winners dating to 1997.