What Is ‘CLV’ in Betting?
CLV (short for “closing line value”) is used to describe the difference between the closing line (final line set by the bookmaker) and the opening line (original line set by the bookmaker). A positive CLV indicates that the bettor has an edge in a potential bet.
CLV Example in Betting
A team may open as a -120 favorite in a football game, but the closing line could be -150. In this situation, the CLV would be a positive 30, suggesting that anyone who has placed a wager on the opening line has identified value in the market as the odds were more favorable than the closing line.
Cappers may use a positive CLV to demonstrate their ability to find value in the market. You may also hear the expression “beating the market” being used in a situation where a bettor has found a positive CLV in their selection.
What Causes the Lines to Change?
There are multiple factors that can alter the lines in betting, here are some of the more common ones:
- A change in the sportsbook’s risk profile
- A significant amount of wagers being placed on one team
- Players being injured/returning to health in the build-up to a game
- Significant events before a game such as trades, suspensions, and weather
- Sportsbooks may alter odds to encourage specific wagers