A young man has been arrested on the Gold Coast over a betting scam, which allegedly saw him exploit a corporate bookmaker’s cash back promotional offer.
The 23-year-old, who police say is from Victoria, was taken into custody after officers recovered almost $18,000 in cash, more than $90,000 in betting credits, devices used to facilitate the offence and bank cards in a search of his car and Surfer’s Paradise hotel room.
The Queensland Racing Crime Squad allege the man exploited the promotion which provides cashback for losing win bets when a horse places second or third, with returns paid in credits.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
The man has since been charged with a single Federal charge of dealing with property reasonably suspected of being the proceeds of crime and has been given notice to appear at Southport Magistrates Court on November 5.
Queensland Racing Integrity Commissioner Ross Barnett said the incident highlighted the “close working relationship” between corporate bookmakers and the Commission.
“The sharing of information associated with illegal betting activity is beneficial to the Commission, the corporate bookmaker and to the betting public who follow the rules,” he said.