Latest UFC odds: Justin Gaethje opens as betting favorite to smash Alex Volkanovski … but not by much

Reigning UFC featherweight champion Alex Volkanovski retained his 145-pound title by smashing and trashing Movsar Evloev atop the UFC 333 MMA event earlier today in Abu Dhabi, handing the Russian his first loss in 21 professional fights.

So what's next for the 38-year-old Aussie?

Volkanovski (29-4) already holds two face-sitting victories over No. 2-ranked Diego Lopes, and No. 3-ranked Lerone Murphy is coming off a loss to Evloev at UFC London back in March . Perhaps No. 5-ranked Jean Silva — a popular fan favorite — could land the next crack at the 145-pound crown.

Or the winner of Aljamain Sterling ( No. 4 ) vs. Kevin Vallejos ( No. 10 ).

If Volkanovski had his way, he'd be elevated to No. 1 contender at 155 pounds , leapfrogging Ilia Topuria and Arman Tsarukyan for the chance to unseat Justin Gaethje and claim the lightweight throne. While it sounds far-fetched, UFC CEO Dana White appears to be on board.

"This guy's accomplished so much, it's hard to say no to a guy like that," White said . "When a guy gets to his level, there aren't too many things we'd say 'no' to him about. If he's got things he wants to do before he hangs it up, I'm sure we'll be very supportive."

Volkanovski already tried his hand at lightweight and came up short both times .

That may be one of several reasons BetOnline.ag opened Volkanovski as the +157 underdog against -180 for Gaethje. "The Great" recently posed the "Highlight" fight as a potential retirement bout for both combatants , though Gaethje remains on the fence about his fighting future.

Based on his destruction of Ilia Topuria at UFC White House , it appears Gaethje still has plenty left in the tank.