The Premier League is the most popular football league in the world, and betting on the Premiership is legal in most countries.

In order to bet on a match, one must understand the value of the betting lines available at any given moment. The Barclay's Premier League betting lines consist of 2 main types of bets: Totals and Moneyline.

For Example: If Manchester United is playing Arsenal at Old Trafford, and the betting lines are as follows: Gunners: +215 (3.150); Man United +105 (2.050); Draw +260 (3.600)

If the aforementioned scenario held true, 100 units bet on the Gunners would return 215 units in profit (315 in gross), assuming Arsenal wins in 90 minutes. Or, 100 units bet on the Red Devils would yield 105 units in profit (205 units in gross) if United thumped the Londoners. However, if 90 minutes resulted in a share of the points, a 100 unit bet on the draw would return 360 units in gross with 260 units of profit. Not much to this whole betting thing, is there?

The other major betting lines for Football matches are Totals. Totals refer to the total goals both teams will combine for in a match: usually over 2.5 goals or under 2.5 goals.

This time, imagine that Chelsea and Liverpool are locking in a battle at Anfield. Since both sides are known to score loads, the totals line is 3. If the match ends 1-1 (2 total goals), an Under 3 pick would win. If the match ends 2-2 (4 total goals), an Over pick would be a winner. If Chelsea lose 2-1, then a punter would get his money back.