Mark Magsayo will definitely understand and respect the fact if he will really be listed as the underdog in the fight as per sports bookies against Rey Vargas, but I don't that will happen because he's the defending champion. On the other hand, that might be good as his odds are far more greater if he'll be listed as underdog though.
Being the favorite or underdog, both boxers might not bother to think about it. Nothing special for them if they will be listed as either of those. In other words, they don't actually care for bookies' decision in providing odds for them. Clearly, Magsayo as a champion should be the slight favorite regardless of how strong Vargas is.
And besides, they are both undefeated and how come it can be a basis on
"who's the stronger between these two"?
For let's say, if ever that bookies will consider Magsayo as an underdog, then it's good for us. Not just here in PH but other countries might put a bet on Magsayo too as I think it's a rare case where the Champion is an underdog. The fight is just around the corner. We should expect more odds previews in the following weeks to come.
Yes, being listed on either favorite or underdog won't matter to them as they aren't the ones who put some bet on these bookies. Magsayo being listed as an underdog will be an advantage to our sides as a bettor even if it is just a slight of odds as an underdog will always have the prettier odds than the listed favorite.
Being a champion won't be a basis to become a favorite, I think we already know about that part because we've seen enough champions listed as the underdog.