Game with rake allowed last bet in (8)
I believe the answer is:
roulette
'game' is the definition.
(roulette is a kind of game)
'rake allowed last bet in' is the wordplay.
'rake' becomes 'roue' (both can mean an immoral man).
'allowed' becomes 'let' (I've seen this before).
'last' suggests the final letters.
'in' means one lot of letters goes inside another.
The last letter of 'bet' is 't'.
'let'+'t'='lett'
'roue' going around 'lett' is 'ROULETTE'.
'with' acts as a link.
(Other definitions for roulette that I've seen before include "If Russian, it's a very dangerous game" , "it's a gamble" , "Form of gambling" , "Gambling device" , "sort of gambling" .)