Five dissatisfied punters will open a "huge pandora's box" of problems for the AFL if they succeed in their legal action over the so-called Sirengate football game, a betting industry boss says.

The AFL is being sued by five gamblers over the umpiring error which led to changes in the official result of the round five, 2006 match between the Fremantle Dockers and St Kilda in Launceston.

In one of the biggest controversies to envelop the AFL, the game was awarded to the Dockers after initially being declared a draw.

Fremantle had been in front by one point when the umpires failed to hear the final siren at Launceston's Aurora Stadium.

St Kilda drew the match after the siren sounded and the AFL almost immediately informed TAB Sportsbet to pay out on the draw.

The Fremantle club protested and the AFL Commission eventually awarded the game to the Dockers.

In a writ served on the AFL Commission on Friday, the five tipsters are demanding $128,000, which they claim they should have won after backing the Dockers to win.

Betting manager for bookmaking agency Lasseters, Gerard Daffy, says if the action succeeds it will lead the AFL into a "huge pandora's box ... several of them in fact".

He said it would throw into question the league's sponsorship deal with TAB Sportsbet and British betting exchange Betfair, worth millions of dollars a year in licensing fees.

Under the deal, the AFL gains full control over the use of its intellectual property and the types of betting products offered.

Mr Daffy said the agreement meant the AFL had "crossed the line" and had to ensure it had a proper betting code, with the game's rules and regulations adapted to gambling.

He said there were many issues arising from this, including changes to results as in the Fremantle-St Kilda match, changes to team selections and incorrect calls by goal umpires.

"At present, the rules are written for the protection of the sport, not for the protection of gamblers," Mr Daffy said.

"In this case, the AFL have admitted they made a mistake.

"In all walks of life if you make a mistake you're going to end up in court and you lose."

One of the five punters suing the AFL, John Kyriakopoulos, of Melbourne, said each had stood to win just over $32,000 after correctly choosing the winners of three other FootyQuad matches.

He said only two of the men had been known to each other at the time.

"I was pretty angry, I think anyone would be in the same situation," Mr Kyriakopoulos said.

"I didn't know about the others. I found out about them soon after."

He said the group's lawyer, John Andrusko, had filed a writ in Victoria's County Court, which says the AFL should not have declared a result when it was aware the match might be subject to a protest.

Mr Andrusko could not be contacted.

An AFL spokesman has said the league will defend the action and declined to comment further.

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