Sportsbook Wire’s Geoff Clark offers insight on the importance of “Closing Line Value” and how to attain it.
While most recreational bettors look at sports gambling as a results-oriented business, the goal of every professional sports bettor and/or advantage gambler is to get Closing Line Value.
The idea is that no one, not even the “wiseguys”, is sharper than the market so the best-case scenario for someone regularly betting on sports is to get ahead of the market. Below, we’ll discuss what “closing line value” is and its importance.
Also see: Sports Betting Terms and Definitions
What is Closing Line Value?
Closing line value compares the price at which you’ve bet a team or side to the closing line at the time the event starts.
Otherwise known as “CLV”, “beating the market” and “getting the best of the number”, sports bettors bow at the altar of closing line value because who doesn’t like bragging about getting a good deal?
For example, let’s say you jump on the opening line of the Tampa Bay Buccaneers -6.5 (-125) at home in Week 1 against the Dallas Cowboys and, at kickoff, the betting window closes with the Buccaneers favored by 7.5 points. In this case, you’d be able to brag about the price at which you bet Tampa Bay.
On the other hand, one of the worst feelings as a sports bettor is to get the worst of the number. Generally, contrarian thinking is profitable in sports betting but only if you beat the market.
Therefore, the key to CLV is anticipating which way the market is headed because time is money in sports betting. However, this is much easier said than done.
How to get Closing Line Value
The best way to sum up the importance of CLV is the more often a bettor gets an edge, the less they have to write about it.
Meaning, the true testament of a “sharp” is getting the best of the number and, in the long run, that person should be a winning bettor.
What I’m getting at is there’s no one foolproof way of attaining CLV as it’s part of the daily grind of handicapping sports and if there were it would be much easier for the Average Joe to beat the books.
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Having “outs” is the most important aspect of getting CLV. “Outs” refers to having multiple sportsbook accounts you can bet through.
Since most oddsmakers copy each other, finding one book that’s number is different than the rest could clue you into the direction in which the market is heading.
The other way to get CLV is both simple and difficult: Work harder. Whether it’s building betting systems, sophisticated algorithms, or acquiring important team information, the goal is to get the best of the number.
Luck or variance comes with sports betting life so don’t expect every bet with CLV to be a winner, but finding it is a skill and the more a bettor hones this skill, the more likely that person is to make money wagering on sports.
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