Wayne Shaw's pie-eating antics during Sutton United's FA Cup defeat to Arsenal are under investigation by the Gambling Commission, while the Football Association is also reportedly set to take a look at the incident.
Sun Bets, Sutton's sponsor for the tie, had been offering odds of 8-1 on the portly 45-year-old eating a pie live on air, and he was caught on camera enjoying his dinner during the second half on Monday.
Shaw has admitted he knew of bookmaker's promotion and the Gambling Commission insists the is no laughing matter.
"Integrity in sport is not a joke and we have opened an investigation to establish exactly what happened," said enforcement and intelligence director Richard Watson.
"As part of that, we'll be looking into any irregularity in the betting market and establishing whether the operator has met its licence requirement to conduct its business with integrity."
Sun Bets has revealed it paid out a five-figure sum on the market, while Shaw says that he knew of some people who had money on it.
"I think there were a few people [I knew]," he said. "Obviously we are not allowed to bet. I think a few of the mates and a few of the fans [did].
"It was just a bit of banter for them. It is something to make the occasion as well and you can look back and say it was part of it and we got our ticket money back."
Arsenal ran out 2-0 winners at Gander Green Lane, scoring through Lucas Perez and Theo Walcott to end non-league Sutton's fairytale run to the fifth round.