"Police have also confirmed that the three men have been released without charge, pending further enquiries." - Source The Age.

The key here being "pending further enquiries."

If the three stooges deny having or knowing of any of the evidence seized during the raids, then Police have to release the men. They can only hold them for a period of time. However, forensic evidence such as fingerprints, DNA etc. still have to be conducted. I believe that Police have kept much of the story and findings to themselves at this stage as it might hamper the investigation, and are also examining irregular betting trends.
"A small amount of cocaine was found", I believe that's not all they found.
Enough for now, it will all unfold in due course....

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