This is the price you are given when you make the bet to the price at the closing line.
If not, then you have a negative CLV.
Odds in Single Bets
CLV can make a difference on individual bets.
Let’s say you bet on the Tampa Bay Buccaneers to win at odds 2.4.
If the closing line is 2.2 then this means you have a positive CLV.
If you placed $20 on your bet and win, you will receive $48.
These are basically multiple single bets combined into one bet.
The odds are compounded meaning they are multiplied against each other to offer even larger odds.
Now let’s say that you have a +0.1 CLV for all of your bets.
If you picked these bets before the game, the odds would have been 0.1 shorter.
This would make the odds on the whole bet 13.92.
Point Spreads
CLV can also relate to point spreads.
This does not necessarily mean a change in price, as point spreads are usually evenly balanced.
Why is CLV Important?
If you bet regularly, then the CLV prices can add up.
If you are still not convinced about CLV, then consider the opposite.
A bookmaker usually offers lines about a week before an event takes place.
For high-profile sports, lines may be offered further in advance than lesser-known sports.
As soon as a line is out, it is subject to change.
When punters start placing their bets, the odds will start to change.
There may be higher discrepancies between what bookmakers offer in the first few days.
These lines tend to converge and will have a negligible difference by the time they close.
This means a couple of things.
After some time, you should see some trends.
Now the odds will never increase for all bets, as a balance must be maintained.
So picking the best value bets is not only about placing your bets early.
However, you will certainly have a bigger window of opportunity if you pick them up quickly.
The external factors are found in team news, injuries, weather forecast, and so on.
These all may play into how the odds will change, but the heavier changes come from internal factors.
You may need to keep tabs on multiple sportsbooks to see what odds are given.
The difference between the prices is largest in the first few days after the lines are offered.
You may find a few sportsbooks that give significantly larger odds on certain bets.
The market indicates that the bookmaker will slowly adjust their odds and exit the gap on the market average.
You may also find some tools that help you determine the way the market is going to go.
Here, you’ve got the option to quickly search through the list and make your conclusions.
Conclusion
Ultimately, CLV is an extremely useful tool for regular bettors.
However, it can also be regarded as a bet in itself.
In some rare cases, the lines may take a swift u-turn and change rapidly in another direction.
In case of external factors such as injuries or other mishaps, the odds can change in any direction.
Thankfully, these chaotic episodes do not occur frequently.
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