Lucky figure deprived of the first course (5)
I believe the answer is:
ascot
'course' is the definition.
(Ascot is a racecourse)
'lucky figure deprived of the first' is the wordplay.
'lucky figure' becomes 'mascot' (mascots are good luck).
'deprived of the first' means to remove the first letter.
'mascot' with its initial letter taken off is 'ASCOT'.
(Other definitions for ascot that I've seen before include "Society race meeting" , "sporting venue" , "Place for meeting" , "Tie or cravat" , "Famous racecourse" .)