Enter the bet odds and the closing odds into the calculator to determine the closing line value.

Closing Line Value Calculator

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Closing Line Value Formula

The following equation is used to calculate the Closing Line Value (as a difference in implied probability, in percentage points). Convert any American or fractional odds to decimal odds first.

CLV\;(\text{pp}) = \left(\frac{1}{CO} - \frac{1}{BO}\right)\times 100
  • Where CLV is the closing line value (in percentage points, pp)
  • CO is the closing odds (in decimal odds)
  • BO is the bet odds (in decimal odds)

To calculate the closing line value, convert both prices to implied probability (implied probability = 1 / decimal odds), then subtract the bet implied probability from the closing implied probability. A positive CLV means you got a better price than the closing line (you “beat the close”).

What is a Closing Line Value?

Definition:

Closing line value refers to the difference between the odds (or point spread) at which a bettor placed a wager and the final odds right before an event begins. It measures how much potential value the bettor gained or lost compared to the final market price.

How to Calculate Closing Line Value?

Example Problem:

The following example outlines the steps and information needed to calculate the Closing Line Value.

First, determine the bet odds. In this example, the odds were +150 when the bet was placed.

Next, determine the closing odds. Just before the event started, the odds were +130.

Finally, calculate the closing line value using the formula above (convert to decimal odds and implied probabilities):

+150 in American odds equals 2.50 in decimal odds, so the bet implied probability is 1 / 2.50 = 0.40 (40.00%).

+130 in American odds equals 2.30 in decimal odds, so the closing implied probability is 1 / 2.30 ≈ 0.4348 (43.48%).

CLV = (43.48% − 40.00%) = 3.48 percentage points.

CLV ≈ +3.48 pp (a positive value indicates you beat the closing line; you got a better price than the market closed at).

FAQ

Why is beating the closing line important?

Consistently beating the closing line is a strong indicator of a successful betting strategy or sharp handicapping. It shows you’re securing better odds than the market at closing, which often translates to long-term profitability.

Does a positive CLV guarantee long-term profit?

A positive CLV means you’re often getting more favorable odds compared to the final line, which generally suggests good predictions or timing. However, it’s not a guarantee of profit on every bet, as variance and other factors still apply. Over many bets, though, beating the closing line can significantly improve your chances of success.

What if the closing line matches my bet odds exactly?

If the closing odds are the same as your bet odds, your CLV is zero. This neutral value indicates that you’re on par with the market at closing, meaning you neither gained nor lost value relative to the final line.