Brighton Grammar School has been rocked by allegations that students in uniform, including some who are underage, regularly gamble at a Tabcorp agency near the private school.

Parents were notified by the independent school's headmaster Ross Featherston on Wednesday afternoon about "BGS boys (in uniform) placing bets at the Church Street, Brighton TAB".

Brighton Grammar School has been rocked by allegations of gambling. Credit:Craig Sillitoe

"I have answered questions from the relevant journalist on this issue in a full and forthright manner, explaining our proactive position on educating boys about the risks around gambling (which includes engaging parents on such issues)," Mr Featherston told parents.

It is understood that a small group of parents were considering legal action on Wednesday night in a bid to injunct the publication of any story that implicated the school or identified their sons.