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The Scottish Sun on Sunday reports McNulty, who plays for Reading, and a 21-year-old man from West Lothian were held by police earlier this week.

Several properties in Edinburgh and the Forth Valley areas were searched as part of an ongoing investigation.

The Scottish Sun on Sunday reports the investigation involves bets on yellow cards being handed to players among other claims.

A Police Scotland statement said: ‘Police Scotland is investigating reported incidents relating to gambling in sport.

‘As part of the ongoing inquiry officers searched a number of properties in the Edinburgh and Forth Valley areas on Wednesday, September 23.

‘Two men, aged 21 and 28, have been arrested and released pending further inquiries.’

McNulty spent the 2015-16 season on loan at Pompey from Sheffield United.

The forward was a big fans' favourite during his time at Fratton Park.

He scored 12 times in 34 games as Paul Cook's side's campaign culminated in a heartbreaking League Two play-off semi-final loss to Plymouth.

McNulty enjoyed a prolific season at Coventry in 2017-18, plundering 28 goals to help them earn promotion to League One via the play-off final.

He earned a switch to Reading that summer but has failed to establish himself at the Championship outfit, netting just once in 15 appearances.

McNulty's had loan spells at Sunderland and Hibernian during his time at the Royals.

He's also represented Bradford and Livingston during his career, as well as winning two caps for Scotland.

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Report: ex-Portsmouth, Sunderland, Sheffield United, Coventry and Reading striker arrested in gambling investigation