Two men have been charged over an alleged betting sting at the NRL’s 2019 Dally M Awards, following raids on two homes and a business in Sydney’s eastern suburbs.

Police investigating suspicious betting activity surrounding the 2019 Coach of the Year Award allege the men used inside information to successfully bet on the outcome.

The awards are named in honour of Australian former rugby league great Herbert Henry “Dally” Messenger.

Police will also allege the men shared what they knew with other people, who in turn placed bets with various agencies.

The men, aged 29 and 31, were on Thursday charged with using inside information to bet on an event and will appear at Downing Centre Local Court on August 20.

The arrests follow raids last Wednesday on separate residences at Paddington and Waterloo and a Surry Hills business. Documents, electronic devices and computers were seized.

The police investigation centres on the timing of bets placed on the award, which was won by Melbourne Storm coach Craig Bellamy in October.

Craig Bellamy was the recipient of the 2019 award, but was not involved in the alleged plunge. Photo: AAP

It is understood a flurry of late activity in the betting market raised eyebrows at NRL’s integrity unit, which then alerted NSW Police.

The accused will appear in Downing Centre Local Court in August.

-with AAP