This paper investigates the elements of fighter performance that lead an MMA bout to be considered the “best” of the night, using data on UFC Fight of the Night bonus award decisions over 15 years of events. Promoter preferences toward particular bout positions on the event card are also examined as well as the influence of crowds due to the exogenous shock of the COVID-19 pandemic. Findings suggest a meaningful difference between performance factors that generate entertainment value relative to those that tend to score points with the judges. They are also supportive of behavioral influences such as recency bias and crowd effects on promoter decision-making.