Glossary · Measurement
Closing Line Value (CLV)
The difference between the price you took and the market's closing price — the truest test of an edge.
The closing line is the sharpest price the market produces, because it has absorbed all available information and money. Beating the close consistently — taking 2.10 on a bet that closes at 1.95 — is the strongest evidence that your selections have real edge. Win or lose on the day, positive CLV over hundreds of bets is what predicts long-term profit.
Formula
CLV% = (odds_taken / closing_odds - 1) · 100
Worked example
Odds taken: 2.10. Closing odds: 1.95. CLV% = (2.10 / 1.95 - 1) · 100 = +7.7%