The clock is ticking ... literally.

We're just a few hours away from the upcoming UFC 117: "Silva vs. Sonnen" pay-per-view event, which will take place from the Oracle Arena TONIGHT (Aug. 7) in Oakland, California.

And the closer we get to kick off, is less time that you have to place your bets.

Tonight's action is, of course, headlined by UFC Middleweight Champion Anderson Silva, taking on number one contender -- and perhaps public enemy number at this point, too -- Chael Sonnen.

After enjoying a bloated -700 line against Demian Maia at UFC 112, "The Spider" has lost some of his webbing, holding firm at a more realistic -450 as the favorite against the mouthy ex-politician, who currently sits as a +325 underdog.

That's Silva's closest line in the past few years, matching his -450 against Forrest Griffin at UFC 101.

Maybe it was his antics last April, or maybe Fedor Emelianenko's loss to Fabricio Werdum back on June 26 proved that no fighter is invincible -- including Silva. Keep that in mind if you want to try and make some money on Sonnen as the UFC heads to "The O."

Get 'em in early, and also check out the spread on some other combatants throwing hands at UFC 117, like Junior dos Santos (-350) vs. Roy Nelson (+250), by clicking here.

It might surprise you who the underdog is in a classic rivalry -- and what's the spread on Thiago Alves vs. Jon Fitch? I couldn't believe it either.

Here are the latest UFC 117 odds (- = favorite; + = underdog):

Remember that MMAmania.com will provide LIVE blow-by-blow, round-by-round coverage of UFC 117 beginning with the PPV telecast at 10 p.m. ET on Saturday, Aug. 7. In addition, we will deliver up-to-the-minute quick results of all the under card action much earlier on fight night.

For the latest UFC 117: "Silva vs. Sonnen" news and notes click here.