The most common and most likely answer to this crossword clue is the 9 letter word CAMBRIDGE
I've seen this crossword clue in The Times
C
A
M
B
R
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D
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E
More clues leading to the result CAMBRIDGE
- Where punters are withdrawing computer game (9
- A boatful of students at sea read, wanting a Big Mac …
- City came first before village in fiction
- Black coat on the counter, top edge a kind of blue?
- City clubs developed big dream
- University in conservative soap opera setting
- City game after US guy’s comeback
- About Archer’s place in university
- University clubs before midday game
- City accountant, male needing some dental work
Buddy explains!

The straight part
We know that "Where punters are" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case where punters are = cambridge.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.