Divide a clock signal by 8

I'm a fresh verilog / HDL programmer and I'm writing this post to get some feedback from more experienced verilog / HDL programmers.

My very first task was to divide a clock by eight.

I know there are some better methods to do this, but as I'm new to HDL this is my first, naive, attempt:

module prescaleMainCLK(CLK, prescaledCLK);
    input CLK;
    output reg prescaledCLK;

    // ''Define'' a 4bit counter, max value: 15
    reg [3:0] counter;

    initial begin
        // Initialise both variables
        prescaledCLK  7) begin

            // Reset the counter
            counter <= 0;

            // Toggle the prescaled clock output
            prescaledCLK <= ~prescaledCLK;

        end else begin

            // Increment counter
            counter <= counter + 1;

        end

    end

endmodule

The Simulation output (EDAPlayground) is as I expect it to be:

Now I want to know if that code is suitable for real applications or if there are some things I need to reconsider.

I would recommend a using modern Verilog header:

module prescaleMainCLK(
    input      CLK,
    output reg prescaledCLK
);

adding bit size to your constants is best practice. 'b0 for all zeros with auto sizing. 0 is an integer likely only 32 bits long which can get you in trouble if you start applying to regs bigger than than 32 bits.

The use of initial is only valid in FPGA synthesis, for ASIC you should use a active low async reset.

reg [3:0] counter;

initial begin
    // Initialise both variables
    counter      <= 'b0;
end

always @ (posedge CLK) begin
  counter <= counter + 1'd1;
end

Versus for ASIC:

always @ (posedge CLK or negedge rst_n) begin
  if(~rst_n) begin
    counter <= 'd0;
  end
  else begin
    counter <= counter + 1'd1;
  end
end

You can reuse the counter bits (as mentioned in another answer) for your slower clocks

wire clk_div2  = counter[0];
wire clk_div4  = counter[1];
wire clk_div8  = counter[2];
wire clk_div16 = counter[3];

At faster frequencies this often becomes tricky to balance clocks correctly. A standard industry practice would be to use enables (derived from this counter) for a clock gate. The clock gate allows a pulse from the faster clock through, you loose the 50 50 duty cycle of the clock but balancing the clock tress becomes much easier.

StackExchange Code Review Q#121134, answer score: 6