I always thought it’s kinda comical how Diaz is rarely get the respect from bookies even after pulling off upset after upset. It’s always hard to gauge how underrated or overrated someone is but there is something relatively reliable we can draw conclusions from: betting odds. Betting odds doesn’t lie, many people might they believe X will win but not many are willing to put money where their mouth is. If there is one fighter that keeps getting very little money thrown his way fight after fight it’s Diaz:
Notable upsets where was a underdog:
+280 vs Conor McGregor(first fight)
+140 vs Jim Miller
+114 vs Gray Maynard(second fight)
+250 vs Rafael Dos Anjos
+256 vs Donald Cerrone
That’s a difficult record to beat. The calibre of fighters Diaz has managed to pull off an upset against and the fact that he was a significant underdog in almost all of the bouts makes him without a doubt one of most underrated fighters in the UFC according to the sportsbooks. I’m not really a fan of the Diaz brothers but numbers don’t lie. Results & numbers tend to cut through subjective bullshit with ease.
Though you make the argument that in some of the doubts it was more the case of that his opponent was being overrated rather that Nate Diaz was being underrated. The most notable one is obviously is the McGregor. Interestingly enough Diaz was actually the underdog(+165) in the second fight as well. Even though the fight didn’t go his way, it was a competitive bout and to my surprise he was still being viewed as the significant underdog. In fact, when the second fight was announced Diaz opened as only a +145 underdog but money kept coming in underdog which made the betting markets push Nate’s line up.
There are other honorable mentions such as Bisping however he’s not as extremely underrated in the betting markets as Diaz. The notable upsets he pulled off was against Rockhold and Silva. However, the betting odds has been fairly consistent, he has lost most fights when he’s been the betting underdog and won most fights where he was the betting favorite.