Closing Line Value

Closing Line Value HelpMany gamblers come to me and ask for any sort of tip that I may have to increase their return on investment. Apart from paying for the picks that I provide, the next best thing a bettor can do is diversify their portfolio of outs. This will allow you to line shop, which in turn will allow you to get the best possible odds when placing your bet.

Getting the best line on the market, by itself, will increase the return on your investment far more than becoming a marginally better handicapper will. Sharp bettors call this Closing Line Value, referred to as “CLV”. The general theory is that if you consistently beat the last line available for betting before the game starts, you will be profitable in the long run. The logistics of it all are a bit more complicated, but that is the jist of it.

In order to get the CLV, you need the ability to “line shop”. In order to line shop, you need to have multiple outs. In order to have multiple outs, you have to accept that some books are far better than others. Some will have more betting lines, some will have more customer service, some more deposit and payout options and some with intentionally weak lines (if you know what to look at).

As a gambler, your number one priority should be to get the best odds when making your bet. This is your main advantage over the house; have your sports betting portfolio contain multiple sportsbooks, that way you will never end up playing a bad line at one book as you can select another book with the best line and place the bet there. Sportsbooks rely on their clients taking poor odds, having multiple books will lessen your need to do this, while increase the overall profit in your portfolio.

Once you’re consistently getting good CLV, your next step will be to embrace the variance. If your goal is to win 55% of the time, that means 45 bets out of 100 will be losers. There is no get rich quick scheme in Sportsbetting; the only strategy that works is grinding out a few percentage points above break even and then applying that to a large sample size.  A return on your investment of 5% may not seem like much, but apply it to $1Million dollars in betting action and all of a sudden you’ve got a German made car. Embrace the losses just as you would the wins, because in the end, the most important “win” a gambler can have is heading in to the game with the best price available.

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