There are three types of betting options when betting on soccer. The bettor can bet on a money line for his team to win, a money line for the draw, or he can bet on the total score of the game.
The European method of betting on soccer is discussed here.
Betting on the Draw
When betting on the outcome of a game to be a draw, the game must be declared a Draw for the bettor's wager to be a winner. If a game goes to Penalty shots, Golden Goals, or there is a disqualification, the official winner will be declared and all Draw bets would be considered losing bets.
Total Goals Bets
A total listed on a game represents the total number of goals scored. When betting on the total goals that a game will have, the bettor must take the OVER or the UNDER. Regardless of the outcome, the combined score of the two teams will determine if he wins or loses his bet. Remember, overtime will always count for the total of the game, but penalty shots will not. Using the above example, if the bettor wagers that the game to go OVER 2½, and the final score is 2-1, the bet is a winner.
Unless otherwise specified, all soccer wagers are official once the scheduled time has elapsed (90 minutes of play plus referee stoppage time).