The most common and most likely answer to this crossword clue is the 5 letter word DIVES
I've seen this crossword clue in The Daily Telegraph
D
I
V
E
S
More clues leading to the result DIVES
- Rich man takes a plunge
- Duke introducing American composer, a rich man
- Rupees taken from several moneybags
- Singers making a bit of error with dodgy bars
- Seedy venues using fliers that will get one in for nothing
- Many a saintly place and some resorts for sinners?
- Plunges about in State's evidence
- Turning state’s evidence exposes disreputable joints
Buddy explains!

The straight part
We know that "Seedy venues" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case seedy venues = dives.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 DIVES mean?
DIVES noun- A supernatural entity of disagreeable nature.
- A jump or plunge into water.
- A headfirst jump toward the ground or into another substance.
- A downward swooping motion.
- A swim under water.
- A decline.
- A seedy bar, nightclub, etc.
- Aerial descent with the nose pointed down.
- A deliberate fall after a challenge.
- To swim under water.
- To jump into water head-first.
- To jump headfirst toward the ground or into another substance.
- To descend sharply or steeply.
- (especially with in) To undertake with enthusiasm.
- To deliberately fall down after a challenge, imitating being fouled, in the hope of getting one's opponent penalised.
- To cause to descend, dunk; to plunge something into water.
- To explore by diving; to plunge into.
- To plunge or to go deeply into any subject, question, business, etc.; to penetrate; to explore.