Trainer Robert Smerdon says he will appeal the $10,000 fine for his part in the Damien Oliver betting scandal.

The Victorian Civil and Administrative Tribunal (VCAT) has knocked back his appeal against his conviction for conduct prejudicial to the image of racing but the trainer still has the avenue to fight the fine, which he says he will do.

"We'll make a submission on penalty," Smerdon said.

The Caulfield trainer was fined for delivering $11,000 in cash given to him by Mark Hunter to pass on to Oliver as winnings from an illegal bet made by the jockey.

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 which Oliver rode another horse.

Oliver is serving a 10-month ban and is expected to be back race riding in September.