Home, having been sick in the punt (6)
I believe the answer is:
billet
'home having been' is the definition.
I can't tell whether this definition defines the answer.
'sick in the punt' is the wordplay.
'sick' becomes 'ill' (synonyms).
'in' is an insertion indicator.
'the punt' becomes 'bet' (punt can mean a bet).
'ill' inserted within 'bet' is 'BILLET'.
Can you help me to learn more?
(Other definitions for billet that I've seen before include "private housing" , "Lodgings for troops in private house" , "Soldier's lodging" , "Housing for military personnel" , "Assign to lodging" .)