How do I keep track of my bets?
I use Google Spreadsheet to track my bets. After I make a bet, I add all the needed information about my wagers in the template. After the bet is graded, I add also the latest odds before the event started, to track the performance against closing odds.
This keeps my bets organized and helps me to improve my betting skills and betting models.
How do you track closing line value?
To track closing line values in sports betting you need to compare your taken odds versus the closing odds. Closing odds are the latest odds 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 closing time of the event.
How do you calculate closing line value?
There are two ways sports handicappers usually track their closing line value.
#1 Basic closing line value (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 to track simple basic closing line value (CLV)=IFERROR((1/Closing odds-1/Taken odds)/(1/Taken odds),””)
#2 No vig closing line value (xCLV)
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 to track no vig closing line value (CLV) – decimal odds=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))
Does closing line value matter?
Yes, closing line value does matter and it is important information in sports betting. Closing line value gives you the information on how many times you beat the odds and for how much, which is directly the information on how you do against the betting market.
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.