But anyone wanting to join in should be warned, this is not virtual betting - the cash is very real.

You can now have a cyber-side-bet on this trophy

However the organisers of BETonline say the betting is secure, and there are safeguards to make sure the only way you will lose your money is if your team loses.

Each user has a password and all transactions are checked with the UK banking system's central computer.

Punters who want to have a flutter with BETonline must set up an account, with a minimum £10 deposit, and provide debit card details before starting to bet.

Any size of bet between £3 and £500 will be accepted, as long as it is covered by funds in the account.

Details given when opening an account will be checked by BETonline against the electoral register, to ensure the punters are UK residents aged 18 and over.

The project has been developed by PA Sporting Life - a joint venture between Mirror Group and the Press Association - and Britain's biggest financial betting firm, City Index.

Other sports seem sure to follow the football

David Annat, managing director of PA Sporting Life, said: "This will transform the way people bet. Never before have punters had so much up to the minute information at their fingertips and been able to act on it immediately."

Martin Belsham, managing director of City Index, added: "For anyone new to betting - especially people who would never walk into a betting shop or ring a betting line - it offers an easy guide to betting with complete confidence.

It is expected that BETonline will be broadened out to cover a wide variety of sporting activities once the World Cup is over.

Research has shown that about 250,000 UK Internet users are also keen gamblers.

Those expected to be particularly interested include City workers who cannot get away from their desks, people living in isolated areas who cannot get to High Street bookies, and women, who are often put off by the atmosphere of a betting shop.

Tax at 7.5% will be paid on bets in the normal way, and any winnings will be credited to the punters' debit card account.