The Gaming Commission, the industry regulator, is investigating an agreement to show FA Cup matches through seven betting sites.
The Football Association has been criticized after it sold the competition rights through a third party.
The penalties for the bookmakers involved could include a warning, financial penalties or the revocation of licenses.
“Our investigations into that matter are ongoing,” the executive director of the Gaming Commission, Neil McArthur, told 5 Live.
“I understand why there are concerns, and to be clear, we already require gambling operators to market, advertise or participate in sponsorships in a socially responsible manner.”
“We are in contact with all operators in the agreement to find out what they did to satisfy themselves.”
A spokesman for the Gaming Commission added: “We hope that gambling operators will ensure, by agreeing on trade agreements relevant to the sport, that such arrangements are consistent with keeping the game safe.”
Since the beginning of last season, bookmakers have been able to show the FA Cup ties on their websites and applications.
The seven betting websites: Bet365, Betfair, William Hill, Coral, Ladbrokes, Unibet and Paddy Power acquired the rights through the IMG agency, which agreed to an agreement with the FA.
In the third round of the FA Cup, there were 23 games available to watch at Bet365, all those who didn’t start at 15:01 GMT on Saturday.
Matches were available to anyone who made a bet or deposited in their account within 24 hours prior to the start.
Betting companies with broadcasting rights for FA Cup ties say they would allow the games to be broadcast on a free platform elsewhere.
In July 2017, the FA announced that it was cutting its ties with gaming companies, but the agreement with IMG was made in January 2017.