• How Do Squares Betting Work
• How Does Football Betting Squares Work
• How Does Sports Betting Work
• How Do Super Bowl Betting Squares Work
• How Does Betting Work

Line of Best Fit

Once all the squares have been filled, it is time to assign the numbers. Randomly assign numbers 0 through 9 to each column, followed by doing the same for each row. Now each square represents a specific score in the game based on the column and row numbers. Football squares is a type of football lottery that gives all participants a chance to win. It is based solely on luck and there is no skill in determining which team has the better players and which team is likely to cover the spread. Instead, participants buy one of 100 squares.

How Do Squares Betting Work

Imagine you have some points, and want to have a line that best fits them like this:

We can place the line 'by eye': try to have the line as close as possible to all points, and a similar number of points above and below the line.

But for better accuracy let's see how to calculate the line using Least Squares Regression.

The Line

Our aim is to calculate the values m (slope) and b (y-intercept) in the equation of a line :

Where:

• y = how far up
• x = how far along
• m = Slope or Gradient (how steep the line is)
• b = the Y Intercept (where the line crosses the Y axis)

Steps

To find the line of best fit for N points:

Step 1: For each (x,y) point calculate x² and xy

Step 2: Sum all x, y, x² and xy, which gives us Σx, Σy, Σx² and Σxy (Σ means 'sum up')

Step 3: Calculate Slope m:

m = N Σ(xy) − Σx ΣyN Σ(x²) − (Σx)²

(N is the number of points.)

Step 4: Calculate Intercept b:

b = Σy − m ΣxN

Step 5: Assemble the equation of a line

y = mx + b

Done!

Example

Let's have an example to see how to do it!

Example: Sam found how many hours of sunshine vs how many ice creams were sold at the shop from Monday to Friday:

Let us find the best m (slope) and b (y-intercept) that suits that data

y = mx + b

How Does Football Betting Squares Work

Step 1: For each (x,y) calculate x² and xy:

Step 2: Sum x, y, x² and xy (gives us Σx, Σy, Σx² and Σxy):

Also N (number of data values) = 5

Step 3: Calculate Slope m:

m = N Σ(xy) − Σx ΣyN Σ(x²) − (Σx)²

= 5 x 263 − 26 x 415 x 168 − 26²

= 1315 − 1066840 − 676

= 249164 = 1.5183...

Step 4: Calculate Intercept b:

b = Σy − m ΣxN

= 41 − 1.5183 x 265

= 0.3049...

Step 5: Assemble the equation of a line:

y = mx + b

y = 1.518x + 0.305

Let's see how it works out:

How Does Sports Betting Work

Here are the (x,y) points and the line y = 1.518x + 0.305 on a graph:

How Do Super Bowl Betting Squares Work

Nice fit!

Sam hears the weather forecast which says 'we expect 8 hours of sun tomorrow', so he uses the above equation to estimate that he will sell

y = 1.518 x 8 + 0.305 = 12.45 Ice Creams

Sam makes fresh waffle cone mixture for 14 ice creams just in case. Yum.

How does it work?

It works by making the total of the square of the errors as small as possible (that is why it is called 'least squares'):

The straight line minimizes the sum of squared errors

So, when we square each of those errors and add them all up, the total is as small as possible.

You can imagine (but not accurately) each data point connected to a straight bar by springs:

Boing!

Outliers

How Does Betting Work

Be careful! Least squares is sensitive to outliers. A strange value will pull the line towards it.

Use the App

Have a play with the Least Squares Calculator

Not Just For Lines

This idea can be used in many other areas, not just lines.

A 'circle of best fit'

But the formulas (and the steps taken) will be very different!