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Step 1
Understand how to bet. There should be at least five basic opportunities to bet on every game: You can bet for the home team to win, the away team to win or the two teams to draw. You should also be able to bet on both the over and the under of the game's final score. (Example: If the over/under is 2.5, a bet on the over means you win if the teams combine to score three goals or more. A bet on the under in that scenario would mean the teams must combine for two or fewer goals for you to win.) As with all wagers, your betting house of choice will attach odds to those results. In most cases, calculating your potential winnings is a matter of simple multiplication. For instance, if you bet $10 on Manchester United to beat Arsenal, and they were listed at 1.85, a victory would net you $8.50 of the house's money, meaning a total return of $18.50.
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Step 2
Discover where to bet. There are several online betting sites you can use. Most accept major credit cards, though some do not serve customers in certain countries (namely the United States). Still, you don't just want to go with any site, as you need to think about the security of your transaction and the ability of the site to cash out your winnings in a timely manner. Before you sign up with any site, visit an impartial industry ratings site like Casinoreview.org. Once you've decided on a site, take time to make sure its soccer wagering page is to your liking before depositing money.
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Step 3
Do your research. While wagering on a match can be a fun activity, making bets without doing your homework is one of the fastest ways you can run out of recreational cash. All the variables that go into winning a match mean that knowing as many details as possible is crucial to winning your wagers. You can go to sites like ESPN and the BBC to see previews of upcoming matches and learn the latest news about each club and player. For instance, you may not want to bet on a team if you know its star midfielder is playing with a calf injury. Of course, you won't be aware of that without doing your research.
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Step 4
Understand trends. Most quality sports wagering sites will have trend sheets, which will give you an extensive history about the two teams and how they've fared not only against each other, but against the over/under numbers. This information should give you more insight about how the game will go, especially if there are incredibly strong trends one way or another. For instance, if Chelsea has covered the over eight of its last 10 matches, and they're playing one of the worst clubs in the league, betting the over would be an attractive play to many wagerers.
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Step 5
Try long-term wagers. While most people will want to wager on games they can watch each weekend, many people may also want to put money on long-term propositions like which club will win the Premier League title or who will lead the league in goals scored. Most of these odds will be listed in dollars won to dollars wagered, much like horse racing. For instance, as of July 1, 2008, Sportsbook.com listed Liverpool at 15-2 to win the 2008-2009 FA Premier League title. That means a Liverpool championship would pay $15 for every $2 wagered successfully. Odds for these long-term propositions will change throughout the year, depending on how teams or individual players are preforming. However, your personal odds on the bet are locked in at the time you make the wager.
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Step 6
Know what you're willing to risk. This is the most important step of all, as a wagerer can lose money quickly if he or she is not careful. It is always best to set limits in how much you are willing to risk, whether it's a monthly budget or simply a maximum you're willing to bet on any single wager. While scouring sites to get all the information on a club you can may make you feel like an insider, there will still be several times you lose the bet despite reasoning out the situation perfectly heading into the match. That's just the nature of sports. No one wants to miss their rent payment because a defender tripped and allowed his opponent to score.
