When Is Nathan's Hot Dog Eating Contest?

The annual Nathan's Famous Hot Dog Eating Contest will take place on Wednesday, as it does every year on the fourth of July.

The yearly feat of eating prowess takes place every Independence Day at Nathan's Famous Restaurant on Coney island. This year, it will begin at 10:50 a.m. ET with the women's division. After that, the Men's division will follow at 12 p.m. ET.

The whole event will be broadcast live on ESPN2. It will also stream online on WatchESPN.

The event tends to draw a remarkable crowd. Thousands of people have been known to show up on the boardwalk, where competitors sit side by side on a stage and devour pounds of Nathan's hot dogs.

The contest has become an international affair. According to a report by CBS News, it is sanctioned by Major League Eating -- the organization that oversees and regulates "professional eating" events. Nathan's Famous Fourth of July International Hot Dog Eating Contest is listed chief among them, though the MLE also oversees everything from state fair events to the Fresco Tacos World Taco-Eating Championship.

The competitor everyone has their eye on right now is Joey "Jaws" Chestnut. Chestnut secured his tenth win at last year's competition, and broke his own hot dog eating record in the process. He put away 72 hot dogs in total. This year, many believe he will prevail yet again, though the field could be ripe for an upset as well. Meanwhile, Miki Sudo looks to be the most promising competitor in the women's division, and may achieve her third consecutive win.

When the dust settles, the winner is awarded $40,000 as a grand prize. The standards are high, however. Competitors must eat the entire hot dog, including the bun. Whoever finishes the most within 10 minutes is the winner. The whole thing is very serious, with judges present and a whole set of rules and regulations.

The competition has come a long way since it was first introduced in 1972. At the time, the winner managed to eat just 14 hot dogs in the allotted time.

Throughout the years, competitive eating has become more of a science and less of an act of sheer will. Like all competitions, the most dedicated participants have boiled down the techniques and training most likely to yield success. Chestnut, for example, has stated that he prepares for competitions by using milk, water and protein supplements to stretch his stomach, maximizing capacity. He then fasts before each contest to make sure he is hungry enough.