While fight fans have been wagering on boxing since two men strapped on the gloves, MMA is still a new venture to many sports gamblers. Unlike boxing, most MMA bouts end with knockouts or referee stoppages and rarely go to the judges’ decision.

“The concept is the same.  Two men compete, one man wins. But in MMA there are many different ways a guy can win,” says boxing and MMA linesmaker Joey Oddessa.  “If you're going to bet MMA as a newbie, you would be well advised to study the fighters’ background and fighting discipline.”

Mixed martial arts are full of diverse fighting styles which lend strengths and weaknesses to others. Some fighters rely on upright striking attacks with kicks and punches while others prefer to use submission holds and take downs, keeping the fight on the mat.

This weekend’s Ultimate Fighting Championship 71 gives MMA bettors nine different matches to choose from, most notably Saturday night’s main event between light heavyweight champion Chuck Liddell and Quinton “Rampage” Jackson.

The challenger Jackson is a bigger, stronger fighter that uses his power and wrestling roots to overwhelm his opponents and slam them to the mat, following with a series of strikes. However, he has shown weakness against taller, upright fighters who rely on close combat and knee strikes known as a Muay Thai clinch. Jackson has six losses during his professional career, with 12 of his 26 victories coming from knockouts.

Liddell, considered to be the best 205-pounder in the world, is also an upright fighter that uses punches and kicks in deadly combos to knock out his opponents. The fighter known as “The Iceman” also has amateur wrestling beginnings and has studied Brazilian Jiu Jitsu, making him just as effective on the mat. Liddell’s versatility has given him a 20-3 MMA record with 12 knockouts.

“In MMA often the elite fighters in their division only have a dozen or so fights that one can take a look at when making their decisions on wagering,” says Oddessa.  “Boxers often have 25-30 bouts before they even get on TV.  So a guy's training background is one of many important factors when deciding who to wager on.”

This high-profile matchup is actually the second time Liddell and Jackson have met. During a 2003 PRIDE fighting tournament, Jackson scored a win over "The Iceman" when the two fighters were classed as middleweights. Jackson punished Liddell with clubbing blows and eventually forced his opponents’ corner to throw in the towel. It was the Liddell’s most recent loss and one of only three defeats during his MMA career.

For this Saturday’s fight, Oddessa and other oddsmakers have tagged Liddell as a -175 favorite to avenge this loss. But if recent main events are any indication, bettors have a good chance of cashing in on the +145 Jackson since a series of upsets have recently rocked the foundation of the UFC.

“In 2006, the favorites were clicking at an extremely high winning percentage. The Ultimate Fight nights and PPVs were going 7-1, 6-2 to the favorites every time out,” says Oddessa.  “The tide simply turned and luck and better matchmaking in these events has caused some underdogs to get there.” 

This trend started back in March of this year at UFC 68 when 43-year-old Randy Couture upset then-champion Tim Sylvia by way of unanimous decision to win his third heavyweight title. The upsets followed into the organization's next pay per view event when reality TV product Matt Serra shocked MMA fans with a knockout win over welterweight champion George St. Pierre as a +500 underdog.

Most recently, highly touted K-1 and PRIDE fighter Mirko Cro Cop was upset by Gabriel Gonzaga after the underdog landed a vicious kick to head, sending Cro Cop to the mat in the first round.

Despite the current string of upsets, Oddessa, who also likes Jackson’s chances on Saturday night, reminds new bettors of the unpredictable nature of MMA fights.

“Even though a pattern has emerged, only the casual player would follow the recent trend of underdogs winning,” says Oddessa. “It’s a recipe to lose money.  No two bouts are the same.”

Saturday night’s UFC 71: Liddell vs. Jackson will be broadcast on PPV starting at 10 p.m. ET. Most online sportsbooks are offering odds on the entire nine-fight card.