2023 Home Run Derby Bracket Challenge: All you need to know about the $100,000 prize money 

The 2023 Home Run Derby will kick off at 8 p.m. on July 10, live from T-Mobile Park, home of the Seattle Mariners. As happens every year, the fun and entertaining spectacle will crown the league's premier slugger.

Players from the American League will face off against players from the National League in a three-round showdown. Each player gets three minutes to attempt to hit as many bombs as possible.

With a $2.5 million prize pool, the winner stands to receive $1 million. The second and third rounds will last two minutes, with a bonus of 30 seconds allowed for any player to hit a ball more than 440 feet. Additionally, each player is entitled to a 45-second break every round.

"The 2023 Home Run Derby kicks off at 8 ET on ESPN. 1 seed Luis Robert looks to join Frank Thomas (1995) as the only White Sox to win a Home Run Derby. A win for Pete Alonso, the 2 seed, and he would join Ken Griffey Jr. as the only players to win the event three times." - ESPN Stats and Info

In addition to featuring some of the league's top names, the MLB is aiming to incorporate fans in the fun. Through the Home Run Derby Bracket Challenge, fans can choose the players they think will win, and edit their picks up to five minutes before the slugfest kicks off.

Fans will be asked to pick winners, as well as submit estimates for the longest home run hit, as well as total home runs. The winner of the challenge stands to win a whopping $100,000. The competition is only open to MLB.com account holders who are eighteen years of age or older.

Last season, Juan Soto of the San Diego Padres won the Derby, smashing 19 home runs at Dodger Stadium. With notable sluggers like Aaron Judge and Shohei Ohtani notably absent from the hit-off this season, many are expecting New York Mets first baseman Pete Alonso to take home the hardware.

"Juan Soto wins the 2022 Home Run Derby!" - Baseball Bros

Home Run Derby is a great time for fans and players alike

Without a doubt, the Derby is one of the most enjoyable parts of the season for fans and players alike. By incorporating the fans to this degree, the league stands to host one of the most exciting and dynamic events yet.