A great introduction, thanks Grandthrax.
I've been having a look on t'interweb at how to trade on football matches and the information I've found recommended finding a football match with a clear favourite and laying the draw, then when the favourite (hopefully) takes the lead back the draw at higher odds. I had a non money trial run the other day on a brazil match in the confederation cup:
Lay £20 at 6.2 - risk £104
Brazil score after 5 minutes increasing the draw odds
Bet £11.8 at 10.5 for £8.9 profit
With a stop loss of £5 if the odds on the draw drop to 5