Spread betting was invented by Charles K. McNeil, The bookmaker advertises a spread of 4 points in a certain game ; also exists, which alters the spread against the gambler, who. The point spread levels the playing field, making betting on either the favorite or the underdog equally attractive. So in this example, if you bet on the Colts, they need to win by at least four points to cover the spread. Your payout is determined by the moneyline odds attached. Before you bet on any NFL game this week, you'll want to know to what the " sharps" are picking. They're the guys who make their entire living.