The most common and most likely answer to this crossword clue is the 4 letter word GYPS
G
Y
P
S
Buddy explains!
The straight part
We know that "Cheats" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cheats = gyps.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does GYPS mean?
GYPS noun- (sometimes offensive) A member of the Romani people, or one of the sub-groups (Roma, Sinti, Romanichal, etc).
- (sometimes offensive) A cheat or swindle; a rip-off.
- A college servant, one who would attend upon a number of students, brushing their clothes, carrying parcels, waiting at parties and other tasks, distinct from a college porter or bedder.
- The room in which such college servants work.
- A small kitchen for use by college students.
- Gypsophila.
- Pain or discomfort.
- An itinerant person or any person, not necessarily Romani; a tinker, a traveller or a carny.
- (sometimes offensive) A move in contra dancing in which two dancers walk in a circle around each other while maintaining eye contact (but not touching as in a swing). (Compare whole gyp, half gyp, and gypsy meltdown, in which this step precedes a swing.)
- A member of a Broadway musical chorus line.
- A person with a dark complexion.
- A sly, roguish woman.