Punter charged with bookie exploitation

A man allegedly exploited a corporate bookmaker's promotion to the tune of more than $100,000 in cash and betting credits, Queensland police say.

The state's racing crime squad allegedly recovered almost $18,000 in cash and more than $90,000 in betting credits, credit cards and devices in a search of the man's car and Surfer's Paradise hotel room.

The 23-year-old from Victoria is alleged to have exploited the promotion, which provides cashback for losing win bets when a horse places second or third, with returns paid in credits.

He was charged with dealing with property reasonably suspected of being the proceeds of crime and has been given notice to appear in Southport Magistrates Court on November 5.

"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," Queensland Racing Integrity Commissioner Ross Barnett said.