The first-place winner earns $10,000 at the Nathan’s Famous Hot Dog-Eating Contest, according to Sporting News. Second place comes with a $5,000 prize, third place earns $2,500, fourth place earns $1,500, and fifth place earns $1,000.

And Celebrity Net Worth reports that a competitive eater can land $250,000 to $500,000 each year through prize money and sponsorship deals. And then there’s the merchandise: Joey has his own line of condiments, including Spicy Brown Firecracker Mustard, Classic Boardwalk Coney Sauce, Orange Citrus Habanero Wing & Dipping Sauce, and Sweet Sriracha Teriyaki Wing & Finishing Sauce.

The 2021 Nathan’s Famous Hot Dog-Eating Contest will air live on Sunday, July 4, at noon EST on ESPN. And competitive eating fans can also tune into ESPN3 at that time for a live feed of Joey’s progress as he attempts to break his own world record.