The most common and most likely answer to this crossword clue is the 8 letter word GAZUMPED
I've seen this crossword clue in Independent
G
A
Z
U
M
P
E
D
Buddy explains!
The straight part
We know that "Ripped off" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case ripped off = gazumped.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 GAZUMPED mean?
GAZUMPED verb- To swindle; to extort.
- To raise the selling price of something (especially property) after previously agreeing to a lower one.
- To buy a property by bidding more than the price of an existing, accepted offer.
- To trump or preempt; to reap the benefit underhandedly from a situation that someone else has worked to create.