Nathan's Hot Dog Eating Contest 2011: Prize Money Needs to Be Way over $20,000

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The Nathan's Hot Dog Eating contest has been marketing gold for Nathan's, since Takeru Kobayashi and Joey Chestnut bolstered the sport's popularity.

According to CNN, the sales in hot dogs sold 453 million hot dogs last year. That is a 93% increase over the past seven years.

The skyrocketing popularity in the sport has a direct correlation with the number of hot dogs sold. The contest has helped to make Nathan's the No. 1 selling hot dog in the country.

That sort of revenue increase justifies the $20,000 purse they shell out for both the men's and women's competition.

It does beg the question though, is that enough dough to pay the winners, who are essentially driving revenue through the roof?

Rather than spend millions on a marketing team, Nathan's pays thousands to competitive eaters to snag the attention of the world.

It seems only fair that Nathan's reaches a bit further into their pockets to return the favor. Kobayashi has a ridiculous contract dispute still looming over the competition like a dark cloud, but he has a valid point.

Competitive eaters need to see more of the money they are earning. The competition is doing wonders for the company, and is making for serious economic growth during a recession.

$20,000 may seem like a boat-load of cash to be spending on prize money for a hot dog eating contest, but it's not even nearly what the competitors are earning.

Nathan's didn't even start offering up prize money until 2007. It seems as though a bump in pay is well deserved for the competitors, who are doing more for Nathan's hot dogs than any employee within the company.

Nathan's president Wayne Norbitz recalls just how far the competition has come in the last thirty years, saying that in 1977, "We waited for a couple of fat guys to walk by. We asked if they wanted to eat hot dogs in a contest. They said yes. We ran a quick little contest and the whole object was to get a photo in the New York Post,"

The competition continues to grow in popularity. With more attention comes more revenue. With more revenue should come a bigger purse for the competitors. Like poker during it's rise in popularity, it seems as though the competitors will eventually see a more lucrative kickback from the hot dog giant they have helped build.

The Independence Day tradition continues and Bleacher Report's Swagger Page has all the up to date information on the 2011 Nathan's Hot Dog Eating Contest.

-Kyle Vassalo

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