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All posts by David MyersHave you been asking, “What is CLV in betting”? Well, we have all the information you need to learn more about this crucial element of online sports betting.
So, let’s not hang around in learning more about Closing Line Value (CLV), including how to track it and the best markets for Closing Line Value sports betting.
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What is Closing Line Value (CLV) in Sports Betting?
In short, the Closing Line Value (CLV) shows you the difference between the odds at which you place a bet with a gambling site such as BetOnline and the odds when the event begins known as the closing line. It’s all about the odds difference between when you bet and when the event kicks off. Closing Line Value is just a fancier way of saying that.
In betting, CLV is a pretty common term used to gauge the value of your bet. If you secure odds that are bettering the CLV, that is what we would call a value bet, as you got in early enough before the lines changed. On the other end of that spectrum, negative CLV occurs when the opening moneyline odds at the time of your bet are worse than the final line. You want to avoid this as best you can, but of course, these are the risks, too.
Why is Closing Line Value Important?
CLV is an important aspect of using crypto betting sites because it gives you a clearer insight into the actual value of your bets. The more you consistently beat the closing line, the more likely you are going to see better profits over time. Of course, beating the CLV doesn’t inherently mean that your bet will win; keep that in mind.
To achieve a high level of betting success, a sports bettor must try and get the better of the CLV, so you are therefore able to find value odds where most other sports bettors are not. Professional sports bettors make regular profits as they simply win more of these profitable bets than they lose, enabling them to regularly beat the book and lock lock down better profits.
How to Calculate Closing Line Value
With the number of the online sports users set to amount to 181.3m users by 2029, it’s important for sports bettors to understand CLV, and the good news is that it’s not as difficult to work out as you think. Calculating the CLV basically just involves comparing the odds you initially bet on with the closing odds of that event when it starts. There are a few ways you can approach working out the CLV.
For example, if you bet $200 on odds of +150 and those odds shift to +100 just before the event starts, then you have won a total of $50, whereas others who bet later have not. This makes working out the CLV much easier and shows you how much better the value of your initial odds was. Of course, that works both ways, as you can also easily work out how much you lost out by betting too early.
Using a CLV Calculator
There are other more complex ways of working out the CLV value, like looking at the win probability percentage or expected value. These methods can be tricky to work out on the fly, which is why it’s a good idea to use a CLV betting calculator instead.
A CLV online calculator helps you determine whether your bets have positive closing line value or negative CLV by comparing the odds you bet on initially to the closing line. All you have to do is input your bet’s odds and the closing odds. The calculator then shows you the CLV as a percentage. Trust us, going with a CLV calculator saves you so much time and cuts out the potential for human error.
How to Calculate BEP
The break-even point (BEP) in general is the point at which the returns generated is equal to the investment. In betting it is the winning percentage you need for your bets to break even over time. Here’s an example of how to work out the BEP.
If you are working BEP out for underdogs, you would divide your price by the sum of that price + 100. For example, +100 odds would be divided by 200 (100+100), which gives you 0.5. You would then minus this from 1 to give you your BEP, which in this case would remain 0.5.
What is the Closing Line Value Percentage?
This is basically just a way to show the difference between the best odds that you initially bet on versus the CLV, but in percentage for format. In short, it would be: CLVP = [(Taken Odds – Closing Odds) / Closing Odds] x 100.
Expert Tips on How to Track Closing Line Value
The best way to start tracking CLV is by keeping a record of all your bets and then comparing them to the closing lines. In this case, using a CLV betting calculator, as we mentioned, is the best way to ensure that your figures are always accurate.
Something that is absolutely crucial to this process is working out the no-vig line at the closing of the odds. Again, you can use a free online CLV calculator to help you factor in the no-vigorish betting lines.
Expert Tips on How to Beat Closing Line Value
Understanding the closing line value in betting is one thing, but you need to know how you can try to beat this line as often as possible. With a better understanding of the CLV betting term, including the positive closing line value and positive EV betting, you can now check out our tips on how to beat it.
✅ Use Positive EV Betting: Beating the closing line with CLV sports betting starts with EV or Expected Value. Try to focus your attention on bets where you can expect a positive EV, which will show you that the bet has a higher probability of winning than the odds suggest. This is where you can pick up on value in the markets early before they potentially shift closer to the event.
✅ Open Multiple Sportsbook Accounts for Line Shopping: The correct way to having a bet compared, is to beat CLV, and to do that you need to have as much information in front of you as possible. The best way to do this is by opening up multiple accounts with different betting sites, which is great for CLV in betting anyway. There is nothing wrong with you doing this, and it will allow you to compare each sportsbook’s opening line odds with one another, which makes it easier to spot value bets.
✅ Use a Sports Insights’ Line Predictor: This is one of the tools we were talking about. A Sports Insights’ Line predictor can predict where the line might move. This can help you get your bets in at opportune times to make sure you are getting the full value within the sports betting market you are looking to specialize in.
✅ Research Betting Systems and Historical Data: Having a look at betting systems and historical data especially curated ones at offshore sportsbooks can give you some insight into where lines could move. Of course, you should take each bet on a case-to-case basis, but you might pick up on some pattern.
✅ Place CLV Bets at the Right Time: When it comes to CLV in betting, it really is all about timing. Betting too early or too late can drastically impact your value, so try to use the tools at your disposal to strike at the right time.
Check out our free betting guides for further expert sports advice.
Best Sports and Markets for CLV
Now that you have the answer to the question to CLV in betting, it’s time to learn more about where you should be focusing your bets. Well, sports with bigger betting volumes, like the NFL, NBA, and soccer, tend to give you more reliable betting CLV opportunities.
In these markets, the fans of sharp betting sites can often influence the closing line as the game starts. More niche sports like snooker or table tennis are not going to have as much of an influence, so it’s going to be much trickier for you to work out the CLVP.
CLV in Sports Betting FAQs
What does closing line mean?
What does it mean to bet the closing line?
How do you find the closing line value?
What is the formula for the closing line value?
What is the closing line value in MLB?
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