Much like Vitor Belfort, the man he replaced in the upcoming UFC 173 headliner, Lyoto Machida has been tapped the underdog in his middleweight title fight with champion Chris Weidman.

Veteran MMA oddsmaker Joey Oddessa today told MMAjunkie he’s opened Machida (21-4 MMA, 13-4 UFC) as a +170 underdog and Weidman (11-0 MMA, 7-0 UFC) a -210 favorite. That translates to the champion being an approximate 2-1 favorite.

UFC 173 takes place May 24 at MGM Grand Garden Arena in Las Vegas. The event, which is the UFC’s annual Memorial Day weekend show in Sin City, includes a pay-per-view main card with prelims on FOX Sports 1 and UFC Fight Pass.

Belfort (24-10 MMA, 13-6 UFC) vacated the UFC 173 slot following the Nevada State Athletic Commission’s ban of testosterone-replacement therapy on Thursday. However, though Thursday’s edition of “FOX Sports Live” included a statement from Belfort, one of the sport’s highest-profile TRT users, that said he voluntarily withdrew from UFC 173, the former champion today disputed it and said UFC officials forced him off the card.

Regardless of the series of the events, Machida is next up for Weidman, who won the title and defended it with a pair of victories over Anderson Silva in 2013.

“Machida is a tougher bout than Vitor, but Weidman is still the favorite,” Oddessa said. “Machida is the best possible replacement now, and it puts Vitor in the on-deck circle for a title shot against the winner if no one gets injured.”

As for his personal prediction, Oddessa believes Weidman is the favorite for a reason.

“Weidman won’t lose a bout in 2014,” he said. “Don’t forget you still have Anderson and a hand full of big-money bouts in the wings no matter how this plays itself out. It’s a good year for the middleweight division.”

Machida, a former light-heavyweight champ, was an obvious choice for Belfort’s replacement. He’s 2-0 at middleweight with victories over Mark Munoz and Gegard Mousasi. Overall, he’s 4-1 in the five fights since losing his 205-pound title to Jon Jones in 2011. The lone loss came via controversial decision to Phil Davis in Machida’s final light-heavyweight appearance.

For the latest on UFC 173, stay tuned to the UFC Rumors section of the site.

(Pictured: Chris Weidman)