A top Hong Kong jockey, four illegal bookmakers and two middlemen have been arrested over a tips-for-bets bribery scam.

An Independent Commission Against Corruption investigation has found that the former jockey had allegedly been accepting bribes, either directly or through the middlemen, from illegal bookmakers and punters for providing tips relating to his mounts in various race meetings.

The alleged advantages were believed to be in the form of bets placed by the bookmakers and punters on the jockey's behalf, as well as dividends generated from those bets.

On numerous occasions during the last racing season, $600,000 in bets were placed on behalf of the jockey, who received, or was expecting to receive, dividends totalling about $1.6 million.

The inquiry is continuing and the Jockey Club is assisting.