Nathan's Hot Dog Eating Contest prize money: How much will the winner make in 2020?

The prize money given to the winner of the annual Nathan's Hot Dog Eating Contest is nice, but we all know the reward of this event is the shameless pride associated with being able to consume an absurd amount of food in a 10-minute period.

Chances are, that prize money and the Mustard Belt that comes with it will go to defending men's Nathan's Hot Dog Eating Contest victor Joey Chestnut yet again. The same can be said for defending women's champion Miki Sudo.

MORE: Odds & betting guide for Nathan's contest 2020

With the exception of 2015, when he was upset by Matt Stonie, the 36-year-old Chestnut has won every men's edition of the Nathan's Hot Dog Eating Contest since his first victory in 2007. On the women's side, Miki Sudo, 35, has a similar streak in place, winning the last six contests.

Which means Chestnut and Sudo have racked up solid amounts of prize money over the last several years from their Nathan's Hot Dog Eating Contest exploits. That's good, because it allows them to buy all the antacid tablets they need.

Below is all you need to know about the prize money for the 2020 Nathan's Hot Dog Eating Contest, which due to COVID-19 is being held in a private, indoor location rather than its traditional spot on the corner of Surf and Stillwell Avenues in Coney Island, N.Y.

Nathan's Hot Dog Eating Contest prize money

Major League Eating has not indicated that the prize money given to the winner of the 2020 Nathan's Hot Dog Eating Contest will be different than in years past despite the impact of the coronavirus pandemic.

So the winner of both the men's contest and the women's contest will leave New York $10,000 richer.

The combined purse between the men's and women's competitions traditionally is $40,000, with each winner earning $10,000. Below is the traditional breakdown of the earnings for the top five finishers in each contest.

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

It's worth noting that each contest in 2020 will feature just five competitors rather than the traditional 15 to allow for social distancing amid the COVID-19 pandemic. Major League Eating has not announced any updates to the payout for the hot dog eating contest.

From MLE's release: "This year, the contest will be dedicated to raising funds for food banks and to raising awareness of food bank needs. Major League Eating and individual eaters will make donations to food banks and use the contest as a platform to highlight the work of these organizations."

What is Joey Chestnut's net worth?

Nobody has won more Nathan's Hot Dog Eating Contests — and therefore collected more prize money from the competition — than Chestnut, a 12-time winner who still holds the world record of 74 hot dogs and buns eaten in 10 minutes.

As of last year, Chestnut's net worth was $1.5 million, according to Celebrity Net Worth. Per the site, a top competitive eater like Chestnut "can easily earn $250,000 (to) $500,000 per year from prize money and sponsorships."

Chestnut also has his own line of condiments for hot dogs, brats, sausages, wings and sandwiches. The products he sells include grilling sauces and wing sauces.

Nathan's Hot Dog Eating Contest list of past winners

Neither Chestnut nor Sudo set records with their winning performances in last year's Nathan's Hot Dog Eating Contest, but they both extended personal streaks. Chestnut has won 12 of the last 13 Nathan's Hot Dog Eating Contests on the men's side, and Sudo has won the last six women's contests.

Chestnut's personal best is 74 hot dogs and buns (2018), and Sudo's personal best is 41 hot dogs and buns (2017). Both will compete in the 2020 Nathan's Hot Dog Eating Contest.

Below are all of the contest winners dating back to 2000.

According to MLE archives, the Nathan’s Hot Dog Eating Contest has occurred each July 4th in Coney Island, N.Y., since 1916, the year Nathan Handwerker opened the restaurant.