The Sydney-based Proton Trading Fund (PTF) that bets on sports games has been allegedly recruiting athletes to join the scheme.

The trading fund’s @pro.punter account claimed on Instagram to have a $10 million pool to bet on the Australian Football League (AFL), cricket, and horse racing on local Betfair exchanges and international markets.

According to Herald Sun, PTF has also indicated in their flyers, advertised through its social media account and email, that their elite spots member are able to invest in the scheme without breaching their leagues’ gambling policy code and sought investments of up to $250,000 with $10m cap.

“Professional athletes (including jockeys) are able to ­invest in PTF with no issues at all. 100% good to go. As you are not the ones placing the investments, or giving advice as to what we are to invest on, or how we should be investing, your participation in our fund will not breach your code’s gambling policy in any way, shape or form,” the flyer stated.