updated 7:22 p.m. ET July 4, 2009

NEW YORK - Reigning champ Joey Chestnut has logged his third consecutive win in Coney Island's annual hot dog eating contest with a world-record 68 franks.

He defeated his archrival, six-time titleholder Takeru Kobayashi, in Saturday's bout. Chestnut led throughout the contest.

Last year's event initially ended in a tie, with Chestnut and Kobayashi both gobbling down 59 hot dogs and buns in 10 minutes. Chestnut went on to win a dramatic five hot dog eat-off.

Chestnut is from San Jose, Calif. Kobayashi is from Japan.

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