Not the best news for Cup Day...Latest reports claim that Damien Oliver has reportedly admitted betting on a rival horse and an expected lengthy ban could force him into retirement. It says: 'Oliver, who will ride Americain in the Melbourne Cup today, has reportedly told friends he is facing a suspension of up to 12 months over the transgression in 2010. According to Fairfax Media reports, the jockey is reportedly considering retiring from the sport in order to avoid a penalty from Racing Victor

Not the best news for Cup Day...Latest reports claim that Damien Oliver has reportedly admitted betting on a rival horse and an expected lengthy ban could force him into retirement. It says: 'Oliver, who will ride Americain in the Melbourne Cup today, has reportedly told friends he is facing a suspension of up to 12 months over the transgression in 2010. According to Fairfax Media reports, the jockey is reportedly considering retiring from the sport in order to avoid a penalty from Racing Victoria or a public hearing. The two-time Melbourne Cup winner has been mired in scandal since last month when allegations surfaced he had bet $10,000 on a rival horse in a race in which he was riding two years ago. There was no suggestion Oliver did not ride his mount to the best of his ability but jockeys are not allowed to be, or tip, in races. He is being investigated for allegedly placing the bet on a horse called Miss Octopussy at Moonee Valley in 2010.