Nate Diaz beat UFC featherweight champion Conor McGregor once before. Perhaps it’ll take a second victory to finally get some respect at the sports books.

During Saturday’s UFC 199 broadcast – and following a few months of often-bizarre public spatting – UFC officials announced and finally confirmed that McGregor and Diaz are set for a rematch.

The duo is slated to meet at UFC 202, which takes place Aug. 20 and airs on pay-per-view from T-Mobile Arena in Las Vegas. McGregor (19-3 MMA, 7-1 UFC) again moves up to welterweight to fight sometimes-lightweight, sometimes-welterweight Diaz (19-10 MMA, 14-8 UFC). They were initially slated to fight next month at UFC 200 before McGregor suddenly (but only briefly) retired from MMA.

Although McGregor had a decent start in their first meeting back in March at UFC 196, Diaz, who took the fight on short notice, ultimately took control of the and scored a second-round submission victory.

McGregor closed as a nearly -600 (6-1) favorite in the first meeting, and according to oddsmaker Nick Kalikas of mmaoddsbreaker.com, the Irishman has opened as a favorite – a small one, but a favorite nonetheless – in the rematch.

Bovada gives some interesting options with some appealing odds: McGregor wins by Knockout/Tech Knockout/Disqualification (+135) Diaz wins by Submission (+200) Diaz wins by KO/TKO or DQ (+475). Odds Shark's Scott Hastings gives his odds analysis for the co-main event bout at UFC 241 between Nate Diaz and Anthony 'Showtime' Pettis. It has been nearly three years since we have seen Nate Diaz in the Octagon, but he makes his return against Anthony “Showtime” Pettis in the co-main even.

• Given below are the betting odds for the upcoming rematch between Nate Diaz and Jorge Masvidal courtesy of BestFightOdds. Jorge Masvidal -300 Nate Diaz +250 Masvidal opened as a -300 betting.
• The betting site gave the rematch -155 odds (bet $155 to win $100) ahead of rematches with Nate Diaz (+130) and Jose Aldo (+900) and fights against Georges St-Pierre (+375) and Tyron Woodley.
• No.1 – UFC 202, August 20: Conor McGregor (-126) vs. Nate Diaz (+106) Underdog Pick: $1000 bet on Diaz to win $1060. Here’s the perfect example of how oddsmakers need to set UFC betting lines that account for volume betting on a certain fighter. In a vacuum, most MMA experts would probably pick Diaz to win.

According to the opening odds, McGregor is a -130 favorite at UFC 202. Diaz, meanwhile, is the +100 underdog.

At those odds, a potential winning $100 bet on McGregor would produce a net profit of $76.92; a winning $100 bet on Diaz would earn the bettor $100 in profit.

Additionally, the over-under for the bout has been set at 2.5 rounds. The “under” has opening odds of -130; the “over” is +100.

McGregor has closed as the favorite in all 11 of his recently tracked fights, according to bestfightodds.com.

For more on UFC 202, check out the UFC Rumors section of the site.

The fallout from Dustin Poirier's shock second-round KO of Conor McGregor at UFC 257 still hasn't died down.

The Diamond debilitated the Notorious with a series of leg kicks before a flurry of punches sent him hurtling to the canvas.

Unfortunately for the Irishman, some of his enemies just so happen to be among the more vocal big-mouths not only in MMA, but also in his adopted sport of boxing.

Jake Paul inevitably revelled in his emphatic defeat, as did Floyd Mayweather.

Nate Diaz, who of course faced McGregor twice previously - winning one and losing one - has now offered his own thoughts on where his UFC rival went wrong back in January.

Perhaps buoyed by his victory in his initial meeting with Poirier in 2014, Diaz believes McGregor was too 'aggressive'.

Diaz: Where McGregor went wrong

'He landed all good shots, dropping combos on him, and I think he was pushing the pace too hard like he had it in the bag,' Diaz told journalist Ariel Helwani.

'He f***ed up! This happened because he don't want to be in there. He's anxious for the kill because he wants out.

Odds Of Nate Diaz Winning Streak

'He should've slowed down a little bit and then he didn't, he pushed the pace and he got caught slipping.

'And the leg [injury] thing? Come on, you were f***ed up the whole time. That's what I think of that fight.'

Odds Of Nate Diaz Winning Results

McGregor responds

Unsurprisingly, it wasn't long before that interview came to McGregor's attention.

Odds Of Nate Diaz Winning Numbers

The 32-year-old couldn't comment on Diaz's analysis of his style, but he did spot the American sitting in a racing chair as he voiced his criticism.

That led to a string of tweets from McGregor mocking him.

We believe the term is 'rattled'.

Odds Of Nate Diaz Winning

Long may this beef continue, as it can only heighten the chances of a trilogy being completed.