This CLV calculator measures closing line value. It compares the odds you took with the final odds just before the event started, known as the closing odds.
The closing price is usually the market’s best guess. So if you often beat it, that suggests your prices are good, even while results go up and down.
Closing line value calculator
The short version
- Raw CLV = odds taken ÷ closing odds − 1.
- No-margin CLV uses the closing price with the margin removed.
- Positive CLV over many bets is a good sign, not a promise of profit.
How to use the CLV calculator
Enter the odds you took and the closing odds for the same outcome. That gives raw CLV.
Next, add the closing odds for the other side, or both other sides in a 3-way market. The CLV calculator then removes the margin from the close and shows your CLV against that fairer price too.
Worked example
Worked example
You backed a team at 2.20. The market closed at 2.00 for your side and 1.85 for the other side.
Raw CLV = 2.20 ÷ 2.00 − 1 = +10%.
However, the close has a margin. The book is 1 ÷ 2.00 + 1 ÷ 1.85 = 104.1%, so the no-margin close for your side is 2.08. Against that, your CLV is 2.20 ÷ 2.08 − 1 = +5.7%.
What the result means
One bet with good CLV may not win, and one bet with bad CLV can still win. Instead, look at your average CLV over hundreds of bets. Our guide to closing line value explains why it settles faster than profit.
Also, the no-margin figure is the stricter test, so it is the one to trust. Closing prices from busy markets, such as the Betfair Exchange, give the clearest signal. The idea rests on markets being fairly efficient by the close.
Using the CLV calculator with your records
Log the closing odds next to every bet, then check your average CLV each month. For example, the betting ROI calculator tracks results, while CLV tracks the quality of your prices. Also, the fair odds calculator shows the same margin maths for a whole market.
Related guides and calculators
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