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.

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.