NATHAN'S HOT DOG EATING CONTEST 2016: Watch FREE Live Stream Online Live Coverage 4th Of July Tradition, Coney Island New Yor

A 4th of July tradition continues when the Nathan's Hot Dog Eating Contest goes live from Coney Island in New York.

The two competitors to watch are Joey Chestnut and his rival, Matt Stonie. Chestnut had won the competition for eight straight years until Stonie emerged victorious in 2015 to take the crown.

Stonie toppled Chestnut by eating 62 hot dogs to his 60 last year. Chestnut has the all-time record for most consumed with 69 in 10 minutes, a record he reached in 2013.

This event, which is sanctioned by International Federation of Competitive Eating and Major League Eating, has $40,000 of prize money hanging in the balance.

The event begins with the women's competition at 10:30 a.m. ET, followed by the men's at noon.

Chestnut has vowed to get his title back.

"Last year was a [horrible] year, a dog crap kind of year. It was awful," Chestnut said via the Washington Post. "We called off the wedding. Then I lost. Everything kept going down. I lost a couple other big contests. Just: it sucked. I lost my ranking, Oh, God. . . . It was just so irritating, knowing I could do better and I wasn't."

Event Live Stream & Details

Event: Nathan's 4th Of July Hot Dog Eating Contest

Time: 10:30 a.m. ET (women); 12 p.m. ET (men)

Venue: Coney Island, Brooklyn, N.Y.

Watch Online: This event can be live streamed for free here.

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