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Horse racing in Hong Kong has been rocked by corruption claims with 21 people arrested as part of a crackdown on illegal betting.

Two assistant trainers and four Hong Kong Jockey Club (HKJC) stable staff are accused of passing on inside information.

Operation Iron Triangle was launched by the territory's Independent Commission Against Corruption (ICAC) on Saturday.

The ICAC said both organisations "do not tolerate any corrupt activities".

Hundreds of millions of dollars are regularly won and lost gambling in Hong Kong, but betting is tightly regulated and stiff penalties including big fines and prison sentences can be handed down for breaking the rules.

The investigation has centred on a betting syndicate at a residential address in Tsuen Wan.

Aside from the six HKJC staff, 15 people have been arrested on suspicion of illegal bookmaking activities.

"While enquiries are continuing, no further comments are available at this stage," said an ICAC statement.

"The HKJC has rendered full assistance to the ICAC during its operation. The ICAC and the HKJC do not tolerate any corrupt activities.

"The two organisations will continue to liaise and cooperate closely to combat related crimes and keep horse racing in Hong Kong clean."