Craig Bellamy after being awarded Coach Of The Year Award in 2019. Picture: Brett Costello

Three properties in Sydney’s east and the inner city have been raided by police on Wednesday as the investigation into the 2019 Dally M awards betting scandal continues.

It relates to the developments in March where police were made aware of suspicious bets placed on the 2019 Dally M Coach of the Year.

Bellamy took out the honour despite not going in as one of the big favourites with $7 odds, with Canberra's Ricky Stuart and Manly's Des Hasler the frontrunners.

No arrests were made and there are no suggestions that Melbourne Storm coach Craig Bellamy was involved in any way.

The punter allegedly works for a company with ties to the awards event and took home $20,0000 after betting on Bellamy through multiple bookmakers.

“Today, officers attached to the Organised Crime Squad’s Casino and Racing Investigation Unit (CRIU), executed search warrants as part of an ongoing investigation into reported betting activity surrounding an award for the National Rugby League competition,” police confirmed in a statement.

“Search warrants were conducted at two separate residences in Paddington and Waterloo and a business premises in Surry Hills. Investigators seized documents, electronic devices and computers.”