There are as many ways to bet the Premier League as there are teams. You can bet on Manchester City to win the Premier League, to cover the goal line spread (a forecast of the number of goals by which a stronger team is expected to defeat a weaker one), to win on the money line (the team you pick just has to win the match), or to score more than a certain amount of goals.
There are also over/under goal totals for each match (total amount of goals scored), correct score bets (pick the exact score of the match) and first goal scorer of the match, which often has higher odds because of the exact nature of the bet.
For example, when Manchester City played West Ham United in February of 2019, Manchester City came into the game as -650 favorites on the money line, while a draw was +750, and a West Ham win was +1700. If you thought Manchester City was going to win the match, you would have to bet $650 to win $100.
But if you thought Manchester City was going to win the game easily, you could have bet City to win -2 (to win by three clear goals, ie. 3-0, 4-0) at +105, which means each $100 bet would have returned you $205 (your $100 plus $105).
If you thought Sergio Aguero would score the first goal, it was +260, while an Aguero goal at any point in the match was -188.
Many people wait until they see the lineups that day to make their decisions on what to bet, but you usually get better odds if you bet it further out.
Aguero did end up scoring the first goal in a 1-0 win, which did not cover the money line, but paid quite well for a bet on first goal scorer.