Matt Stonie is the new hot dog eating champion at Nathan's Famous Fourth of July Hot Dog-Eating Contest.  Stonie dethroned reigning champ Joey Chestnut by downing 62 frankfurters in ten minutes today at New York's Coney Island. 

Chestnut, a world record holder and eight time title holder, managed to choke down 60 hot dogs in an unsuccessful bid to win a ninth straight title.  Stonie, who was last year's runner-up, pockets $40,000 for the victory.  

Miki Sud is the new women's champion gulping 38 hot dogs and buns in ten minutes as thousands looked on at Coney and others watched the event on ESPN2. 

Photo: Getty Images