Football is the most watched sport on the planet. There are so many leagues and competitions for you to sink your teeth into that you’ll never be short of chances to become deeply involved in the beautiful game.

But everyone likes a flutter now and again, and with some many markets to bet on, here’s some tips on how to make an educated bets and get your hands on some cash.

Betting is a game of chance

Making money in business is never easy, it’s one thing to be successful, build up your portfolio and then make a profit. But all that can come crashing down unless you work intelligently and the same can be said for placing a bet.

Betting is a game of chance, winning and losing comes down to the slightest of margins. And betting on football is pardon the pun a completely different ball game. There are so many markets to choose from, that you can be completely out of your depth very quickly.

The first piece of advice everyone should take on board is only to wager what you can afford. I hear so many stories of people losing hundreds and even thousands of pounds that if you can bet £10 do that. Start out small, build on  our success, but make sure it never stops being fun.

The full-time result

The most popular type of football bet is on the full-time result, with either a 1X2 bet (win/lose/draw scenario) or an Asian handicap.

With a 1X2 bet, you bet on a team to win or draw, whether that’s a single bet on one team or an accumulated coupon where all of your selections have to win.

If you chose to go down this route, having some knowledge of which teams are in form, topping their tables, or scoring goals for fun, if the team you want to choose is at home, take a look at their record, all these pointers will go some way towards you selecting the right bet.

In 1X2 betting, the odds are actually easier to read than you’ll think. One will signify the home, one the away, and the final odds will show a draw. What you’ll need to remember is that these bets will only cover you for the regulation 90 minutes, so bet smart and do your research.

The double chance bet

If you’re looking to make some quick betting money to top up your pot, this could be the one for you.

Allowing you to bet on two of the three outcomes of a game in one bet, it gives you the chance to bet on:

Home win/draw

Away win/draw

Home win/Away win

While these bets can be easier to win, the odds will be substantially lower than the full-time result market, so to make a profit, you may need to bet a little more.

The correct score bet

If you’re looking for something with longer odds, take a look at the correct score betting. For these to be successful, you’ll need to predict the result of a match, which can be easier said than done.

However, there is a way you can bet intelligently on the correct score market, and that’s to go for the correct score group betting option. So if you think a match will finish 3-0, pick this as your correct score bet, but there is a shadow of a doubt, then place an additional group bet on 3-1,3-3,2-0 for example.

Of course, the returns will be shorter than a correct score bet. But it allows you to cover all your bases.

The Accumulator

These type of bets are probably the most popular waged throughout the football seasons and will often see millions of pounds lost and won by punters, as the attraction of a small stake offers a larger payout.

You put many selections on one betting slip, and as the odds multiply it gives you the chance of a higher return.

This is one of my favourite ways to bet, and if I can land the right combo, then I can potentially make a more substantial sum while still enjoying the game.

The potential for betting on the beautiful game is huge as there are hundreds of betting combinations available. But remember when placing your bets to monitor your outgoings, stay smart and choose the bookmaker who’ll give you the best value.