Racing Integrity commissioner Sal Perna said that an investigation would be launched, covering thoroughbred, harness and greyhound racing, on August 20 and be concluded by September 14.
"We welcome today's announcement," RV chief executive Rob Hines, said in a statement on Thursday.
"This is an opportunity for members of the public and participants to bring forward information pertaining to any race-fixing allegations and we would encourage those harbouring such evidence to be forthcoming."
Addressing reporters, Perna expressed belief that the industry is largely free from corruption.
The probe comes after media reports that police were investigating claims of widespread corruption in racing after an alleged tip-off about a race run in April last year.
"The inquiry aims to identify systemic integrity issues across the three codes - thoroughbred, harness and greyhounds," Perna said.
"I do not believe there are widespread integrity issues within the racing industry in Victoria.
"However, as an independent authority with the mandate to oversee the integrity of racing, I have a duty to address these allegations comprehensively."
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