Anders has certainly probably had more success and experience than I betting soccer, but personally I have found that just betting one bet per game is the better way to do. When you bet a side and the draw it just reduces your odds to too large a degree because you are risking twice the amount and all it takes is a loss to beat you.
Let me take today's CL game as an example. I believe odds at one book I saw were Man U +140, Draw +200 and Lever +160.
If you are a Man U backer it looks good to play Draw 1 unit and Man U 1 unit because either result gives you a profit. Let's look at this closely, though.
Man U: 2 units wagered to win 0.4 units
Draw: 2 units wagered to win 1.0 units
Lever: 2 units wagered and 2 units lost
Over the long term, it seems that overcoming the 2 unit losses, when they come, is extremely difficult. This is because you are basically giving away one unit every game. If you win you still lose one unit on the other wager and if you lose you are losing two units instead of one.
My record isn't exactly stellar on my free picks page (3-6 for a profit under $200) but if I hadn't made the mistake of adding the Pathinaikos side to a Draw bet made when they faced FC Porto last year to ensure a small profit, I would actually have a pretty good record.
My advice is to track your own plays or play them for relatively insignificant amounts before making standard sized wagers. Good luck in whatever you decide to do.