No. 1 contender Colby Covington opened as a big underdog to UFC welterweight champion Kamaru Usman for their upcoming rematch at UFC 268.

Covington and Usman previously met at UFC 245 in December 2019, with Usman winning the fight by fifth-round TKO to defend the UFC welterweight title. Nearly two years later, and these two heated rivals will meet for the second time later this year when they clash in the main event of UFC 268, which is set to take place on November 6 at Madison Square Garden in New York City, New York. It’s one of the most highly-anticipated fights of 2021.

Ahead of the rematch between Covington and Usman, the oddsmakers opened up the betting odds for their second encounter. Take a look at the opening betting odds below.

UFC 268 Odds

Kamaru Usman -270
Colby Covington +230

Usman opened up as a -270 betting favorite, meaning a $270 bet would win $100. As for Covington, he opened up as a +230 betting underdog, meaning a $100 bet wins $230.

Given Usman is the UFC welterweight champion and has already defeated Covington by knockout, it’s of course not a surprise at all to see him open up as a sizeable betting favorite in this matchup. Usman is coming off of a knockout win over Jorge Masvidal and he finished Gilbert Burns in his fight before that. He has been absolutely dominant in the Octagon and it doesn’t appear that Usman will lose any time soon, but if anyone is going to give him problems inside the Octagon it’s Covington. Although Covington lost to Usman the first time these two met, he gave the champ arguably the toughest fight of his career. Since losing to Usman, Covington has rebounded with a TKO win over Tyron Woodley in his last outing in order to earn this second title shot against the champ.

Who is your money on in the rematch between Colby Covington and Kamaru Usman at UFC 268?