I have a history of issuing food challenges for cash prizes. There are the entry level challenges of $1 for six Saltine crackers in 1 minute and the $2 for a can of Pepsi/Coke and 1 standard sized donut in 90 seconds up to the Madden level challenge of $50 for a gallon of milk in an hour. (The $2 challenge is actually pretty easy and its main purpose is to get people hooked for future challenges.) There are a few spur of the moment challenges that have been met, such as the payout for eating half a sheet cake.

Some friends and I were talking about the hot dog eating contest over the weekend and I think I can eat 10 hot dogs in 12 minutes. I'm not really a big hot dog fan and I'm sure I'll get sick, but if I can generate enough wagering action, I might do it.

(Odds are for money lines. Money line odds are read as follows: +135 means if you bet $100 and win, you win $135 + your original $100 wager back. -240 means you bet $240 to win $100. Who says this blog isn't educational?)
Current lines:
Over 9.5 hot dogs +135
Under 9.5 hot dogs -240

Will Cal throw up during the contest or within 5 minutes of its conclusion?
Yes -120
No +105

I think staging an eating contest to generate gambling opportunities is a warning sign that you may have a gambling problem.
Ted seems willing to attempt this as well, so maybe we can have an unsanctioned IFOCE event later this week.