How it works: Oddmakers predict by how many points the favored team will beat the underdog. You can still bet that way, but McNeil opened his own book-making joint in Chicago and introduced what he called “wholesaling odds,” which was betting on point spreads. Back then, if you wanted to bet on a football game with your local bookie, you got odds on the winner – the Bears would pay 2-to-1 if they beat the Giants, for example.
