To track closing line values in sports betting you need to compare your taken odds versus the closing odds. These prices are the latest prices before the event starts and there are several services to provide this information. Oddsportal is one of them, where you can find information about the odds from opening time till kick-off time of the event.
There are two ways sports handicappers usually track their clv.
No vig closing line value tracking is calculating the value with no-vig closing odds. This gives us a first picture of how many times and for how much odds dropped compared to our taken odds. But it is imperfect information.
The formula to use in Google Spreadsheet=IFERROR((1/Closing odds-1/Taken odds)/(1/Taken odds),””)
The more accurate information is no vig closing line value, where we compare our taken odds versus the closing odds without margins. Being a profitable bettor requires beating the closing line and beating the juice.
The formula to use in Google Spreadsheet for no vig=IFERROR((1/Closing no vig odds-1/Taken odds)/(1/Taken odds),””)
The formula to calculate fair odds (Home vs Away two way betting example – decimal odds)=1/((1/Home odds)/(1/Away odds+1/Away odds))
Yes, closing line value does matter and it is important information in sports betting. This performance summary data gives you the information on how many times your bet beats the latest implied probabilites from sharp bookmakers and for how much.
This is directly the information about your betting performance against the betting market.
Such data also gives you the picture about your performance in a single game. For example if you make wagers on one team, you can come back and check your bet just before the game starts. Simply look at your bet numbers and final numbers on the market on oddsportal or any other site that provides latest free bookmaker information.
Consistently beating the closing line value is a much better indicator of successful sports betting, than other information about results. All serious sports handicappers track and pay attention to how they do against closing odds. Bookmakers identify winning bettors based on this metric.
My betting tracker is an example of simple performance summary sheet that can be used and modified easily. It can be used also as a excel betting tracker spreadsheet if you prefer this software.
But the most important is that you can add your own bet types, you can add any bet and data you want, no matter of the league, sport, amount of money. It is completely free and I hope it will help you identifying how to make more money and how to improve your performance.
After you upload it to your computer, the sheet is ready to use. At the bottom you’ll see 4 tabs:
The most important tab is the first one. This is where you will put your actual bets which you will make at your sportsbook. Every bet can be tracked in terms of units, or simply add every single bet with your actual wager in terms of money. The profit will be shown in your “currency” or betting units.
Same story is with your available funds. Your betting profit can be based on dollars, euros or simply units.
The first column represent the number of bets you make. So every time when you make a bet and place a wager with real money, simply add this info into the betting performance tables.
The second column represent the date of your bets. And then you type or select team names, game, sport, league, bet type, odds, units and if you made a profitable (W) or a losing bet (L).
The next three columns are bets information about clv.
To succeed in the world of sports betting, it’s essential to have a clear understanding of your performance and betting history. Many bettors lack this awareness, which can lead to gambling problems or failure to make payouts. By using a performance tracking sheet, you can gain valuable insights into your betting performance and make informed decisions for future bets.
The first step towards better betting performance is to start using a performance tracking sheet. Many bettors don’t track their bets at all, leading to an inaccurate perception of their performance in the betting market. By inputting your betting data into a tracking sheet, you can gain a clear understanding of your betting history and overall performance.
One crucial metric to monitor is how your bets perform against the closing line value (CLV). This is particularly important when betting on sharp markets, such as the NFL, NBA, MLB, or major football/soccer leagues like the Premier League. If you find that your profits are high, but your percentage of beating the line is low, it’s essential to reconsider your betting strategy and methodology.
The advantage of using a spreadsheet for performance tracking, such as Excel or Google Sheets, is the ability to customize it to suit your needs. You can add performance graphs or other visualizations to better understand your betting trends and performance.
As you track your performance and analyze your data, it’s crucial to continuously evaluate your betting strategy. Identify areas where you may not have an advantage against the market and make adjustments accordingly. By being proactive in refining your approach, you can minimize the risk of things going wrong in the long run.
Whether you prefer Excel, Google Sheets, or another betting program, it’s essential to use a tracking tool that meets your requirements and preferences. Each tool offers unique features and capabilities, so take the time to explore your options and select the one that best aligns with your betting style and goals.
Understanding your performance is key to success in professional sports betting. By examining your betting history and learning from your past experiences, you can identify patterns and trends that will help you make more informed decisions in the future. This continuous learning process can ultimately lead to improved betting performance and greater success in the sports betting world.
Maximizing the benefits of performance tracking in sports betting starts with using a tracking sheet and paying close attention to key metrics like CLV.
By customizing your spreadsheet, evaluating and adjusting your betting strategy, choosing the right tracking tool, and learning from your betting history, you can enhance your understanding of your performance and make better-informed decisions in your sports betting endeavors. Download free bet tracking spreadsheet at the top of the page, if you didn’t yet!
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