The second of the two biggest fights early in the burgeoning career of Callum Peters has gone by the wayside and is a painful reminder of who forgets history are condemned to repeat it.

Except the Peters' camp remembers it too well.

The only Indigenous man in the Australian boxing team for Paris has since jumped up a weight division, after the 2022 Commonwealth Games middleweight silver medallist bowed out in one of the 2024 Olympic Games light-heavyweight round of 16 bouts.

Peters' sore head slumped down and his nervy insides were left "gutted" when the German referee raised the hand of Kazakhstan's Nurbek Oralbay in a split decision call on Wednesday morning.

"I thought I did enough in the last round, lot of clean shots," Peters said afterwards.

"I'm a bit disappointed because, damn, I really wanted it.

"I did enough in the second and last rounds, but it didn't happen.

"You've just got to learn from those type of tough fights, those hard ones.

"I felt strong, I felt good, but that's boxing."

That is not suggesting Peters could be held entirely responsible for the loss, especially if following social media of other Australians against the 2023 World Championship light-heavyweight champion.

The scores appeared to flatter the Kazakh with the South Australian unable to hide his discontent by the third and final round, after Oralbay was spotted hugging and holding on just to curb Peters' punches and superior fitness.

The 21-year-old kept frowning at the referee during Oralbay's stalling tactics, with Peters lifted his arms in the air on multiple occasions to protest that he was not the boxer stopping the contest continuing.

Despite landing three blows flush on the chin in the first round that included the credentialed Kazakh given a standing eight-count in the second round, not enough judges agreed with the Peters' camp.

The Canadian and Nicaraguan judges gave Peters the tight bout 29-28, but Moroccan, Algerian and Czechia officials flipped their scores around.

"In the second, I got a nice (right hand) shot in – he got an eight-count," Peters said.

"Sweet, I thought, it might have been a 10-8 round ... but it didn't happen.

"I'm gutted – he tried to knock my head off in that first round, but I'm still standing.

"What is it they say? Die standing or live kneeling."

For a second time when the national spotlight shone down on the luckless Peters, he got the wrong side of the card.

Except the stakes were slightly higher in the Commonwealth Games middleweight final than four fights earlier of the Olympic tournament.

Close to two years to the day, Peters fought Scotsman Sam Hickey for the gold and most pundits believed Peters had the edge, but he lost 29-28 and had to leave the ring with silver.

While experiencing the heartbreak of the three-round amateur ring where knockouts are rare, Peters is not in a rush to put his hand out for a pay day and enter the professional ranks.

He wants one last run at either the Commonwealth Games – assuming the next edition is not cancelled – or possibly the 2028 Olympics in Los Angeles, where he will be 25 years of age.

"I don't see why not – I'm only 21," Peters said.

"I was hoping to get gold here, but there's always a next one.

"(I will) just stay on track for that."