The gambler's boat? (4)
I believe the answer is:
punt
'boat?' is the definition.
(type of boat)
'the gambler's' is the wordplay.
I cannot quite understand how this works, but
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is found in the answer.
The remaining letters 'pun' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for punt that I've seen before include "Flat boat for Irish money" , "Pre-euro currency unit of Ireland" , "Flat-bottomed boat propelled by pole" , "Open flat-bottomed boat" , "gambling" .)