The Australian racing industry - not to mention Ballarat's - is in for a shakeup, after three men were arrested in dawn raids at Miners Rest and Warrnambool this morning.

Police have released a statement saying a 48-year-old from Miners Rest, a 38-year-old from Yangery and a 26-year-old from Warrnambool are being interviewed "in relation to sporting integrity matters - including obtaining financial advantage by deception, engaging in conduct that corrupts or would corrupt a betting outcome or event contingency, the use of corrupt conduct information for betting purposes, and attempting to commit an indictable offence".

Police said a firearm and a taser had also been seized from the properties.

We caught up with Radio RSN racing editor Matt Stewart - 

Victoria POlice were also seen searching trucks on the site at Miners Rest.

Images: Geordi