The most common and most likely answer to this crossword clue is the 5 plus 5 letter word BOOBY PRIZE
I've seen this crossword clue in The Guardian
B
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More clues leading to the result BOOBY PRIZE
- Idiot, finishing sulkily, spoils reward for last place
- … bird spoils wooden spoon
- Alongside particular short, drink bottles as reward for failure
- By spinning one in alcohol win derisory award
- Idiot on top with something for bottom
- Jeer Times reporter’s open presentation that’s made to last
- Award one fails to win
Buddy explains!
The straight part
We know that "reward for last place" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case reward for last place = booby prize.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.