CLV, short for closing line value, compares the price you got with the price the same side closed at when the game started. Bettors use it to check whether they're getting good numbers, separate from whether a bet won.
How does it work?
Lines move as money and news come in, and the closing line reflects everything the market knows. If you beat the close, the market moved toward your side after you got in: positive CLV. If it moved away from you, negative CLV.
Example
You track a player's Over 24.5 points at +110. By tip-off, the same Over 24.5 is -120.
+110 implies about a 47.6% chance (100 divided by 210).
-120 implies about a 54.5% chance (120 divided by 220).
The market ended up pricing that Over as more likely than your price did, so you have positive CLV. Take -120 and see it close at +110, and it's negative.
CLV says nothing about whether the bet won. A positive CLV bet can lose, and a negative one can win.
How does PropsMadness measure it?
Each bet you track in My Bets (web) or the Bets tab (app) saves the price when you tapped +. When the game starts, we record where that side closed at the same sportsbook, so a bet tracked at DraftKings is measured against DraftKings' closing price. Bets tracked at DFS books such as PrizePicks and Underdog get no CLV, since those books don't post a closing line.
TAKEN · CLOSE shows both prices.
CLV shows the comparison for each bet.
The Closing line panel sums it up across your bets.
One bet's CLV is mostly noise, so summaries wait for 20 measured bets overall, or 10 per book for a single sportsbook.
Why does it matter?
Wins and losses take a long time to mean anything because single games are so random. CLV builds up faster, since it's measured on every bet regardless of the result. It describes your prices, though, and positive CLV over a stretch doesn't guarantee you'll come out ahead.
Is CLV free?
Yes. It comes with bet tracking, free with sign-in on web and in the app.
Related: How to track a bet in My Bets