Trainer Robert Smerdon has lost an appeal over his conviction for his part in the Damien Oliver betting scandal.

Smerdon was found guilty of conduct prejudicial to the image racing for delivering approximately $11,000 in cash given to him by Mark Hunter to pass on to Oliver as winnings from an illegal bet by the jockey.

The Victorian Civil & Administrative Tribunal on Tuesday upheld the conviction by Victoria's Racing Appeals & Disciplinary Board.

The money was the settlement of a bet Hunter placed on behalf of Oliver on Miss Octopussy, the winner of a race at Moonee Valley in October 2010 in which Oliver rode another horse.

Smerdon was fined $10,000 by the RAD Board and has the option to return to VCAT to appeal that penalty.

Oliver is serving a 10-month disqualification which expires in September and he is expected to apply to Racing Victoria to start riding trackwork next month to prepare for his return.

Hunter, a form analyst and commission agent, was not charged with any offence.