Sutton goalkeeper Wayne Shaw is at the centre of a betting probe after eating a pie on the substitutes' bench during an FA Cup defeat to Arsenal.
The 46-year-old has admitted he knew Sun Bets were offering 8-1 odds against him doing so.
Both the Gambling Commission and the Football Association are now investigating whether the incident broke any rules.
Nicknamed the 'Roly Poly Goalie' because of his 20st weight, 46-year-old Wayne Shaw is employed by Sutton as a reserve goalkeeper and as part of the coaching team.
He said: "A few of the lads said to me earlier on, 'What is going on with the 8-1 about eating a pie later on?'
"As I say, Sun Bets had me at 8-1 to eat a pie. I thought I would give them a bit of banter and let's do it. All the subs were on and we were 2-0 down.
"I went and got it at half-time from the kitchen, I had it all prepared and ready to go. It was meat and potato.
"I think there were a few people (who backed it). Obviously we are not allowed to bet. I think a few of the mates and a few of the fans. 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."
Gambling Commission enforcement and intelligence director Richard Watson said: "Integrity in sport is not a joke and we have opened an investigation to establish exactly what happened.
"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."
The FA is also looking into the incident, saying in a statement that they are "investigating whether there has been a breach of FA regulations in relation to betting".
The FA rulebook says: "A participant shall not bet, either directly or indirectly, or instruct, permit, cause or enable any person to bet on (i) the result, progress, conduct or any other aspect of, or occurrence in, a football match or competition."
Speaking on BBC 5 Live, Sutton chairman Bruce Elliott said: "Wayne is a top man. I didn't know anything about it. He has got himself in the papers again and the fame obviously has gone to his head a little bit, but we will soon bring him back down to earth, don't worry about that."
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