Cryptic crossword clue
Reckless gambles involving a league that includes Rugby and Poole, we hear 4,5

The most common and most likely answer to this crossword clue is the 9 letter word BALLGAMES

I've seen this crossword clue in Financial Times
B
A
L
L
G
A
M
E
S

Buddy explains!

The straight part
We know that "Rugby and Poole, we hear" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case rugby and poole, we hear = ballgames.
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 BALLGAMES mean?

BALLGAMES noun
  1. Any game played with a ball.
  2. A specific contest or match between teams playing such a game, in particular a baseball game.
  3. A sport played in the Aztec and Mayan civilizations; Mesoamerican ballgame.
  4. Affair, issue, matter, subject, story, topic.

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