Penn is a former UFC welterweight and lightweight champion while Nick Diaz was the Strikeforce welterweight champion prior to leaving the organization for greener pastures.

Penn (16-7-2) comes into this three-round contest as the favorite over Diaz (26-7-1), as Penn has odds of -125 to top Diaz, who has a money line of -105. Both fighters have similar styles as each relies on boxing and jiu-jitsu to win fights. Penn may have the edge in regards to wrestling, but Diaz will have a big size edge in terms of mass and reach. Both fighters will be sure to leave everything in the octagon, which makes this fight very interesting.

The co-main event also has a very competitive contest as heavyweights Cheick Kongo (26-6-2) and Matt Mitrione (5-0) face off with the winner emerging as a top-10 contender in the division.

Mitrione is the slight favorite, with a money line of -140 while Kongo has odds of +110 to win. Both fighters are primarily strikers, but Mitrione packs the harder punch and is more mobile while Kongo has a slightly better ground game. Mitrione will look to keep the fight standing and stick-and-move while Kongo will look to utilize leg kicks and takedowns to finish the fight with ground-and-pound.

For complete UFC 137 betting odds, check out the jump.

UFC 137 Betting Odds & Fight Card

Saturday, Oct. 29, 2011

Mandalay Bay Events Center, Las Vegas, NV

Welterweight Bout -Nick Diaz (-105) vs. BJ Penn (-125)

Heavyweight Bout- Cheick Kongo (+110) vs. Matt Mitrione (-140)

Heavyweight Bout- Mirko CroCop (+220) vs. Roy Nelson (-280)

Featherweight Bout – George Roop (+265) vs. Hatsu Hioki (-325)

Lightweight Bout – Dennis Siver (+190) vs. Donald Cerrone (-240)

Featherweight Bout – Bart Palaszewski (+240) vs. Tyson Griffin (-300)

Bantamweight Bout- Jeff Curran (+300) vs. Scott Jorgensen (-400)

Light Heavyweight Bout – Brandon Vera (-500) vs. Eliot Marshall (+350)

Lightweight Bout – Danny Downes (+170) vs. Ramsey Nijem (-210)

Middleweight Bout – Francis Carmont (+100) vs. Chris Camozzi (-130)

Middleweight Bout – Clifford Starks (+100) vs. Dustin Jacoby (-130)

No matter what career path you walk, most people dream of pursuing their craft at the highest level, and Eliot Marshall is no different.

A cast member on Season 9 of The Ultimate Fighter, the 30-year-old Colorado native came out of the Las Vegas madhouse to post a win over Jules Bruchez at the show’s live finale, following it up with a victory over finalist Vinicius Magalhaes four months later in Montreal. His third trip into the Octagon yielded a third-straight win, with Marshall earning the nod in a split decision over Jason Brilz at UFC 103.

The trio of victories earned Marshall a step up in competition, setting up a date with Vladimir Matyushenko on the initial UFC on Versus event. The savvy veteran would go on to earn a narrow split decision victory, dropping Marshall’s record to a respectable 3-1 through his first four UFC fights.

While Matyushenko would go on to headline the very next Versus show opposite light heavyweight phenom Jon Jones, Marshall was released, his lack of aggression and three straight trips to the judges’ scorecards outweighing his win-loss record.

Read the full article.