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Following the announcement in November, The Sun on Sunday revealed Toney is the subject of a seven-month probe over allegations of gambling during his lower league spells.
The striker took to Twitter to release a statement on the matter.
He wrote: “I’m aware of a story about me in a national newspaper.
“I have been assisting the Football Association with their enquiries and will not be making any comment until such investigation has reached its conclusion.
“I am a proud Englishman and it has always been my childhood dream to play for my country at a World Cup finals.”
Toney, who has captained his club seven times this season, did not make the plane but will be hoping to continue his goal-scoring streak into the second half of the Prem season.
Fellow England star Kieran Trippier was penalised for breaking FA betting rules after telling a friend to “lump on” ahead of his transfer from Tottenham to Atletico Madrid in 2019.
Trippier did not directly place a bet but following an investigation he was banned from football activity for ten weeks and fined £70,000.
In 2016 Joey Barton was found to be in breach of the betting rules after placing 1,260 bets over a period of ten years.
The following April he was banned for 18 months, effectively ending his career as he retired instead of deciding to appeal his punishment.