CORPORATE bookmakers and alcohol providers will still be able to advertise during almost all AFL telecasts, escaping tough restrictions in the new television code.

Advertising booze will be banned on Australian free-to-air television before 8.30pm, but sports telecasts on Friday nights, weekends and public holidays have been given an exemption.

Thursday night games will face limitations on alcohol advertising.

The changes were announced on Tuesday, as part of a wide-ranging overhaul from the Australian Communications and Media Authority (ACMA).

New restrictions will also be placed on gambling advertising relating to childrens' shows, but these do not affect AFL telecasts.

"As is the case under the old code, the general gambling restriction is not relevant to sport," ACMA chairman Chris Chapman said.

"The key change in respect of alcohol advertising and sport is that alcohol ads are permitted in ‘sports programs’ on weekends and public holidays, rather than just ‘live’ sporting events (at those times.)

"This means replays of events and sports news/analysis programs on weekends will be permitted to have alcohol advertising," he said.

Footy broadcasts and associated shows have increasingly featured ads from corporate bookmakers in recent years.

It follows an explosion in online and mobile app sports betting.

Gambling and alcohol companies provide millions of dollars in advertising and sponsorship revenue to the AFL, its clubs and broadcast partners.

The new code of practice will come into effect from December 1.

The new code does not apply to subscription television or internet broadcasts, while radio is covered by a different code.