Champion jockey Damien Oliver has described allegations that he placed a bet on a rival runner to beat a horse he was riding in the same race as 'damaging and hurtful'.
Fairfax Media claimed on Sunday that Oliver, using a middleman, placed a $10,000 bet on Miss Octopussy, which started as the favourite and won a night race at Mooney Valley on October 1, 2010.
Oliver rode Europa Point, the second favourite which finished sixth.
"I've been a jockey for 24 years. My record and reputation show me to be honest, committed and trustworthy," Oliver said in a statement released through the Victorian Jockeys' Association.
"With regards to the allegations made in the Fairfax Media, I cannot and will not be making any comment, other than to say allegations such as these are damaging and hurtful.
"Everyone, myself included, should have the right to a due process being followed here.
"With that in mind, I'd request that my rights in this area be respected.
"That is all I have to say at this time."
Racing Victoria chief executive Rob Hines said in a statement that an inquiry had been launched.
"We can confirm that a race involving Miss Octopussy is the subject of a stewards' investigation," Hines said.
"That investigation is ongoing and thus we'll be making no further comment on it at this time."
Jockeys are prohibited from betting on or selling information about races.Oliver, a winner of two Melbourne Cups and four Caulfield Cups, lost his ride on second Cox Plate favourite Green Moon in the wake of the allegations.