Fight fans are gearing up for what should be an epic bout when Chuck 'The Iceman' Liddell battles Quinton 'Rampage' Jackson in an Ultimate Fighting Light Heavyweight Championship event Saturday in Las Vegas.

UFC:71 is a rematch of a 2003 fight "Pride: Final Conflict" in Japan, in which Jackson defeated Liddell by TKO. That fight was Liddell's last loss.

Sports bettors can wager on UFC:71 at betED.com, which has Liddell as a heavy favorite at -200. Jackson is +150.

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Liddell (20-3-0), 37, based in San Luis Obispo, Calif., is a devastating striker with an incredible takedown defense, according to the UFC:71 website. He is the reigning UFC World Light Heavyweight Champion and has knocked out his last seven opponents including Randy Couture (twice), Vernon White, Horn, Renato 'Babalu' Sobral and most recently Tito Ortiz at UFC 66.

Jackson (26-6), 28, fighting out of Irvine, Calif., beat Marvin Eastman in February, dropping him with a TKO in the second round. Jackson is known and respected " and feared " for his raw strength, power slams and equal striking ability.

'I'm excited to make this long awaited rematch a reality for UFC fans,' said UFC President Dana White.

'Chuck has been on a mission to avenge all of his losses. He avenged Randy Couture, then Jeremy Horn and now standing in the way is Quinton 'Rampage' Jackson.

'Rampage is extremely excited to finally be in the UFC, and is very confident that his second fight in the UFC will earn him the light heavyweight championship. This is without a doubt the blockbuster fight of the summer.'

Another Main Card fight features Karo Parisyan against Josh Burkman. betED has Parisyan the clear favorite at -300, while Burkman is +260.

UFC:71 goes Saturday at 7 pm PT/10 pm ET at the MGM Grand Garden Arena.