Game with rake allowed last of bet inside (8)
I believe the answer is:
roulette
'game' is the definition.
(roulette is a kind of game)
'rake allowed last of bet inside' is the wordplay.
'rake' becomes 'roue' ('roue' can be a synonym of 'rake').
'allowed' becomes 'let' (I've seen this before).
'last of' indicates one should take the final letters.
'inside' indicates putting letters inside.
The last letter of 'bet' is 't'.
'let'+'t'='lett'
'roue' placed around 'lett' is 'ROULETTE'.
'with' is the link.
(Other definitions for roulette that I've seen before include "Casino game" , "Spinning-wheel game" , "Table game" , "Gambling activity" , "Game of chance with small ball" .)