Closing Line Value: What Is CLV In Sports Betting?

All bettors want to get the best odds possible when using online betting sites. It makes their potential profits larger and doesn’t cost them any additional stake. If this makes sense to you, then you already understand the importance of CLV (Closing Line Value).

CLV in sports betting is the difference between the odds that the bettor takes and the odds that are available at the very last second before the event starts. Those final odds are known as the closing line.

We’re going to take a closer look at exactly what CLV means in betting, as well as some analysis on how achieving a positive CLV could indicate a better likelihood of success. By the end, you’ll hopefully be following lines and making better wagers!

Can Sharps Affect the CLV?

Before we dive right in to how to use CLV to your benefit, it’s important to note that there are a few things that can impact CLV. One of those things is sharp bettors. Sharps are what we might call informed bettors. These people know their sport incredibly well and often bet with confidence and are correct.

It’s widely accepted that sportsbooks are well aware of sharp accounts and will take note of any bets from them. This can cause shifts in the odds and thus, the closing line value.

How to Use CLV in Sports Betting

So now we know the meaning of CLV in betting, how do we use it to our advantage? The most important thing to understand when using CLV to your advantage is the difference between positive and negative CLV.

●    A positive CLV is achieved when the odds move in your favour before the start of the event. So, you placed a bet at odds of 10/1 and they shortened to 7/1 before the start. 
●    A negative CLV is when the odds drift before the start of the event. So, you placed a bet at odds of 10/1 and they drifted to 33/1 before the start.

Ideally, you want to achieve a positive CLV and avoid a negative one. This is because the odds shortening suggests the market thinks your bet has a better chance than the odds that you took suggested.

Other Factors to Consider Alongside CLV

While CLV gambling is a pretty solid strategy, it’s better when combined with other factors. Below are some important things to consider alongside closing line value.

●    News: Keep an eye on the news surrounding the event that you’re betting on, sometimes announcements are made about things that will directly affect outcomes.
●    Injuries: Player injuries can have a big impact on the value of a bet, look out for news on injuries to ensure you’re not taking poor value odds.
●    Trends: Some bettors like to bet with the crowd. If you see odds shortening, it could be because of developments with the event, or it could simply be others following the crowd.
●    Weather: Many sports are hugely affected by the weather, so if thunderstorms are forecast during a football match, or drought before a horse race, odds can shift.

Why is the CLV ‘Closing Line Value’ so Important?

CLV is important in betting because it’s a tangible way of viewing the ‘added value’ that you’re getting. If you regularly take odds that are longer than the closing odds (and win), you’re doing a better job than the sportsbook is of opening.

This is because the closing line generally reflects the value that’s closest to the actual probability of something happening. Sportsbooks constantly take into account the influence of the public’s money, what sharps are betting on, changes in event news, and so on.

By the time the event happens, the sportsbook should have narrowed down the potential outcomes and have their odds set accordingly. If you managed to get better value ahead of time, you essentially beat the bookmaker.

How to Beat the Closing Line  

Beating the closing line is easier said than done, after all, if it was easy, everyone would be doing it! However, there are some tips that you can use to increase your chances of success.

●    Bet Early: The closing line is (generally accepted to be) as close to the actual probability as the odds get. By betting early you’re increasing your chances of getting favourable odds.
●    Line Shop: Odds vary from sportsbook to sportsbook, sometimes greatly. Generally, bookmakers move as a pack, changing odds to be more in line with one another. However, if you’re quick and watch the lines, you can find often find better value.
●    Arbs: Arbitrage betting is a whole other topic, but looking for arbitrage possibilities can help you identify better chances for a positive closing line. Arbs tend to happen when sportsbooks are slow to change odds, giving you a chance to strike and get the better ones.