Top Australian jockey Damien Oliver has been disqualified for eight months and suspended for a further two months following a hearing in Flemington.
Appearing before Racing Victoria stewards, where he faced two charges, Melbourne Cup-winning rider Oliver, 40, admitted to betting on a rival horse.
He made admissions to stewards about placing a $10,000 bet via a third party on Miss Octopussy, the winner of a race at Moonee Valley in October 2010, leading to the eight-month disqualification.
Oliver, who was sixth on second-favourite Europa Point, was also charged with having in his possession, and using, a mobile phone in the jockeys' room prior to the race, for which the stewards handed him a two-month suspension.
Oliver is best known in Europe for riding Dermot Weld's 2002 Melbourne Cup winner Media Puzzle.
During his disqualification, Oliver, who said he had been under enormous stress at the time due to problems with his marriage, will be banned from all stables and racetracks, but will be able to return to track work during the two-month suspension period that follows.
Quoted on www.news.com.au, he said: "I want to apologise to the racing industry and everyone here today. I am deeply sorry for my actions."
Racing Victoria Chairman Michael Duffy said: "It is my belief that the penalty delivered in today's stewards' inquiry was appropriate given the cooperation afforded by Mr Oliver and the matters put forward on his behalf in mitigation of penalty.
"The result of today's stewards' inquiry has sent a powerful message to the jockey profession that there is a zero tolerance of any breaches of the prohibition on betting.
"The matter involving Damien Oliver and Miss Octopussy is now closed. However, it should be noted that the Committee's inquiries into other matters raised during the investigation are ongoing."
2 March 2015McCoy shines on Sivola
Weekend plan for Lincoln hope Boy
Arzal seeking change of luck
Bentelimar booked for Supreme rule
Watering possible at Cheltenham
Wincanton Thursday abandoned
Aintree beckons for Milan
Dundalk unlikely for Byron
Cops on patrol for Pertemps
Sizing team to make late call
Stars on show at Cheltenham
Codd angling for Festival glory
Duke set Carlisle agenda
Prospects bleak at Wincanton
Moon camp wary of Irish threat
Hobbs unveils Cheltenham hopes
Magic McCoy on target with Fredo
Azorian back in winning groove
Berlais lands Auteuil prize
Fred Winter favoured for Berbas
High hopes for Meade Festival team
Cooper seeks Cheltenham riches
Lemaire in hot water in Japan
Reckless camp consider Arkle bid
1 March 2015Cecil runner second at Huntingdon
High hopes for Meade Festival team
Super set for National Duty
Longsdon retains Joe faith
Nolan hoping Noble makes cut
Camping in line for Cup bid
Bin Suroor tribute for Cavalryman
Vautour excites Mullins in workout
Elliott posse work at Leopardstown
Geraghty confirmed for Master
Wayward back on right track
Investment gains Greatwood gold
Bal win delights connections
Glinger burns off Kelso rivals
Pipe proves he's a Soll man
Geraghty shines on Leave It
28 February 2015Festival plans fluid for Cyclone
Walter back for another victory
Irish pair do battle in France
Geraghty: Sprinter will be fitter
Wylie lines up Cheltenham team
Twiston-Davies Blak in business
Divine Bishop on Festival trail
Irish duo set Doncaster poser
Night riding high for Grimthorpe
Glingerburn facing another battle
Pipe targets Aintree with veterans
Carlito primed for Kelso return
McCoy not planning Festival goodbye
Bridge camp praying for rain
Cook suspended from riding
27 February 2015Golantilla in Ballsbridge bid
Safety strikes in Zabeel Mile
Fehily confirms Zarkandar mount
Lieutenant bosses Purcell rivals
Dettori delights on Dubday
Many Clouds goes back to school
Maguire loses appeal
New One at ease for Faugheen clash
Foxrock still in Gold Cup picture
Apache ready to take flight in JLT