Collingwood forward Jaidyn Stephenson has been handed a 10-game ban for his involvement in a betting investigation.

Stephenson has also been handed a $20,000 fine, and a 12-game suspended sentence, which will hang around for the rest of his career.

Stephenson self-reported to the AFL on May 19, after allegedly asking a friend to place a bet for him of less than $50 on a game in which he played.

The Pies forward placed three multi-bets on three Pies games, when Collingwood faced the Bulldogs in round four, Essendon in round six, and St Kilda in round nine.

Stephenson placed multiple bets including on himself to kick goals, Collingwood to win, Collingwood to win by a certain margin, and teammates to gather certain possessions.

His bets totalled $36, and all bets lost.

He cannot play for Collingwood's VFL side either during the ban, but is still allowed to train.

Stephenson released the following statement via the Pies' website.

"It was an incredibly naïve thing to do.

"I’m embarrassed that I’ve let myself, my family, my teammates and our loyal fans down and I’m devastated that I won’t be able to pull on a Collingwood jumper for the next 10 weeks.

"I can’t change the past, but what’s most important is what I do next."