Merab Dvalishvili and Alexandre Pantoja Enter UFC 323 as Clear Favorites

UFC 323 is almost here and the final pay-per-view event of 2025 is shaping up to be one of the most important cards of the year. In the main event, bantamweight champion Merab Dvalishvili faces Petr Yan in a highly anticipated rematch. Betting odds list Dvalishvili at –500, which corresponds to an implied win probability of roughly 83 percent. In the co-main event, flyweight champion Alexandre Pantoja defends his belt against Joshua Van. Pantoja enters the fight as a –265 favorite, giving him an implied win probability of about 72 percent. The matchup gives Pantoja an opportunity to extend his dominance in the flyweight division. If both champions defend successfully, the UFC will likely enter 2026 with the same titleholders at bantamweight and flyweight. For Dvalishvili, another victory would be especially historic, since it could make him the first UFC athlete to earn four championship wins in one calendar year.