Yes, although the fight is only speculation at this point, if a fight between Woodley and Diaz takes place at UFC 219 on Dec. 30, as rumored, or at any time in 2018, the odds are valid for action.
If it happens, Woodley is heavily favored in the opening odds from Bovada.lv. The odds on Woodley are -260 (or 5/13), while Diaz opened at +200 (2/1). That means you would have to bet $260 on Woodley to win $100. Conversely, a $100 bet on Diaz would earn a $200 payday, should he win.
Though there has been no official announcement about a Woodley vs. Diaz bout, rumblings have the UFC targeting its yearend UFC 219 event for the surprising match-up.
UFC president Dana White had initially targeted lightweight titleholder Conor McGregor‘s return for UFC 219 in a bout opposite interim champion Tony Ferguson. There had also been talks trying to land featherweight champion Cris Cyborg versus challenger Holly Holm on the card. Neither of those negotiations has yet to bear fruit.
As such, it’s not surprising the UFC would target Woodley’s return to the Octagon for Dec. 30, although recruiting Diaz as his potential opponent came out of left field for most.