Bid cut after review of great deal (2-5)
I believe the answer is:
no-trump
'bid' is the definition.
(I've seen this before)
'cut after review of great deal' is the wordplay.
'cut' becomes 'rump' (rump is a kind of cut).
'after' means one lot of letters go next to another.
'review of' is a reversal indicator.
'great deal' becomes 'ton' (both can mean a large amount).
'ton' written backwards gives 'not'.
'rump' put after 'not' is 'NO-TRUMP'.
(Other definitions for no-trump that I've seen before include "The kind of contract" , "Having no suit ranking above all others" , "Type of bid at bridge" , "Put morn (anag.); bridge call" , "Highest bid in bridge" .)