Nathan's Hot Dog Contest bettors whiffed badly on a golden opportunity with Joey Chestnut out

In most years of the Nathan’s Famous Hot Dog Eating Contest, Joey Chestnut is such a massive favorite that the contest isn’t worth betting on. In 2024, with the eight-time reigning champion officially out of the competition, the field was wide open and gave bettors a rare opportunity to make some real money.

Unfortunately, they didn’t have a good read on the other glizzy gobblers and failed to take advantage.

Patrick Bertoletti stunned the field with a 58-hot dog performance, winning at +750 odds that attracted just 8.8% of the bets at BetMGM and 6.7% of the handle.

58 GLIZZYS

PATRICK BERTOLETTI WINS THE MEN'S NATHAN'S FAMOUS HOT DOG CONTEST pic.twitter.com/1CKtp4Xmxd

— ESPN (@espn) July 4, 2024

Three people were favored over Bertoletti and two received more action, including the favorite, Geoffrey Esper, who finished as the runner-up. Esper and James Webb (+130) combined to receive 61.3% of the bets to win and 84.1% of the money at BetMGM.

That’s where bettors missed.

Bettors also missed on Esper’s prop line of 49.5 hot dogs eaten, with 69% of action on the under. Esper finished with 53 hot dogs eaten to go over that number and spoil one of the most popular prop bets at BetMGM.

A couple things bettors did nail was the over on hot dogs eaten by Webb (47.5) and Nick Wehry (44.5), with 99% of the money on those markets getting it right.