UFC on ESPN: Matheus Nicolau vs. Alex Perez odds: Which fighters are the betting favorites on the main card?

UFC on ESPN: Nicolau vs. Perez or UFC Vegas 91, is set to take place on April 27 at the UFC's APEX Facility in Las Vegas, Nevada.

Matheus Nicolau, who is ranked #5 in the flyweight division, last fought in 2023 where he suffered a first round KO loss to Brandon Royval. Prior to facing Royval, however, the Brazilian had been in fine form and had won four bouts in a row, including notable wins over Manel Kape and Matt Schnell.

His opponent will be Alex Perez, the No.8 ranked flyweight, who is in desperate need of a win as he is staring down the barrel of a potential four-fight skid. After picking up three wins in a row between 2019-2020, Perez then faced stiff competition in Deiveson Figueiredo, Alexandre Pantoja and Muhammad Mokaev, falling short in all three bouts.

As the event this weekend draws near, the betting odds for the card have been released but are subject to change.

Per Vegas Insider, Nicolau (-175) heads into the main event as the betting favorite, whereas Perez (+150) is the underdog.

Elsewhere on the main card, Ryan Spann (-200) is favored in his light heavyweight bout against Bogdan Guskov (+170). A women's flyweight bout will see Karine Silva (-160) open as the favorite against Ariane Lipski (+130).

Austen Lane (+200) will then make the walk as the underdog in his heavyweight bout against Jhonata Diniz (-250). Jonathan Pearce (-170) will then face David Onana (+140) in a featherweight clash.

Opening the main card, Tim Means (+240) will be the biggest underdog of the night when he faces Uros Medic (-300) at welterweight.

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Who are the betting favorites on the prelims at UFC Vegas 91?

Outside of the main card, UFC Vegas 91 also features a stacked preliminary card with a host of fighters hoping to push up the rankings in their respective divisions.

The odds are also available for the prelims but are subject to change as fans look to make their picks before April 27.

Per Vegas Insider, the featured prelim has the biggest betting differential of the night as Victor Henry (-550) faces Rani Yahya (+400) in a bantamweight bout.

Michael Figlak (-160) also opens as the favorite in his lightweight clash against Austin Hubbard (+130). A heavyweight bout will follow with even odds as Don'Tale Mayes (-110) faces Caio Machado (-110).

A women's strawweight bout then sees Ketlen Souza (-334) being favored against Marnic Mann (+250) and James Llontop (-350) opens as the favorite against Chris Padilla (+275) at lightweight.

The final two fights of the prelims will see Ivana Petrovic (-500) as a heavy favorite against Na Liang (+380) in the women's flyweight division and Hayisaer Maheshate (-220) holding a slight edge over Gabriel Benitez (+180) at lightweight.