Using betting odds to determine ranking...

 This seems like a pretty obvious idea.  Everyone complains about subjectivity in ranking.  Well, what's the one thing you can add to make people take it seriously?  Money!

The idea is simple:  Any fighter who is a betting favorite over the next, would be ranked the highest.

Let's do it with the HW division:

Fedor vs. #2 thru #10 = The betting favorite, he is #1.

Brock would be the favorite against everyone except Fedor, #2

Shane would the betting favorite against everyone except Fedor and Brock, #3

Do this for all the fighters in the top-10, and voila.  Oddsmakers don't want to lose money, so you can be sure there is no bias when it comes to setting the odds.

This even works when the better fighter loses, but would still be the favorite.  No reason he should lose his ranking.  Examples would be when GSP lost to Serra, clearly GSP was the better fighter, and was the betting favorite, even tho on paper, Serra was ranked higher, at the time.  BJ Penn and Frankie Edgar is a similar situation.

What do you think?  Would this work?  Using oddsmakers betting lines to determine actual ranking....?  Let's make it happen!

good idea.
lets see your lists