5. The Long Island Hot Dog Festival
First prize: $500
The fifth on our list of the 10 biggest hot dog eating contests in the world is the Long Island Hot Dog Festival. This competition is held in July at Iron Mike’s Bar and Grill in Seldon, New York. There is no limit to the number of contestants and they have to eat as many hot dogs as they can in 10 minutes. First prize is $500, second place gets $100, and third place is awarded $30.