LAS VEGAS – Anthony Olascuaga encapsulates the ethos of The Ring’s new series “The Underdog,” an event he’s headlining Thursday night at Fontainebleau on DAZN as he defends his WBO flyweight title against Juan Carlos Camacho-Rivera.

The 26-year-old Los Angeles native is an underexposed champion, having fought more times abroad than he has in the United States during his five-year career. When Olascuaga (9-1, 6 KOs) steps inside the ring against Camacho-Rivera (19-1, 8 KOs), it will mark the first time his mother has been in attendance to watch him fight.

“I'm really looking forward to this opportunity. It's a dream come true to be headlining a show in Las Vegas,” Olascuaga told The Ring.

Olascuaga’s last five fights have taken place in Japan. He suffered his first professional loss there by stoppage against Kenshiro Teraji in April 2023, and he knocked out Riku Kano in July 2024 for the crown he now carries. He has since successfully defended the title twice, with the most recent occasion coming in March against Hiroto Kyoguchi.

The momentum has allowed “La Princesa” – who often sports colorful hair – to focus on his burgeoning boxing career and to quit jobs like driving cabs and cutting hair to make ends meet.

Olascuaga is surrounded by a world-class team featuring career-long coach Rudy Hernandez, a finalist for The Ring’s 2024 Trainer of the Year award, as well as training mate Junto Nakatani, The Ring’s No. 7-ranked pound-for-pound fighter.

“I gain a lot of knowledge working with Junto, and every time he comes back from Japan, it's like he's on a new level,” said Olascuaga, who has partaken in hundreds of rounds of technical sparring with the Japanese juggernaut. “The work is like friendly chess matches, but I'm getting better as I go as well.

“You will definitely see a new and improved version of me against Camacho-Rivera, balancing my defense and offensive aggression. I'm right where I want to be, and need to be. I’m looking to collect more belts after I beat him.”

Olascuaga is familiar with Camacho-Rivera because he served as a TV analyst for the 28-year-old Puerto Rican’s split decision win against Jayson Mama in October.

“I got to see him fight firsthand from ringside,” Olascuaga said. “He's a formidable opponent. I talked to him a little bit, and he seemed to be a good guy inside and outside of the ring. But come fight night, he's not my friend.”

Camacho-Rivera was dropped twice by Mama but mustered the win. His last time out, in March, he sneaked by with another split decision win in an eight-rounder against an unheralded contender in Mexico who sported a 6-6-2 record.

“I see some cracks in his style that I can exploit,” Olascuaga said. “He's a defensive counter-puncher who fights off of his back foot a lot. I see that he has a lot of openings for my right hand. I just need to create my angles and get my shots in. I have to be defensively responsible. I can't just go in there looking for the knockout. We'll see how the fight plays out.

“Considering the opportunity that I've been given, I want to show out with a knockout win. I can't wait to get in the ring and throw down to give an exciting show. I have the power, and everyone I spar says I have the power. I need to prove that I have that dog in me once the lights come on.”