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.