The most common and most likely answer to this crossword clue is the 5 letter word GAMIN
I've seen this crossword clue in The Times
G
A
M
I
N
More clues leading to the result GAMIN
- Street urchin playin' for money
- Street kid gambling a grand away
- Young rascal placing bets loses second grand
- Boyish dictator supporting the introduction of genocide
- Scamp is oddly glammy and popular
- Street urchin: a male consumed by alcohol
- Little urchin playin’ competitively
- Good African dictator once a street urchin
- At heart, “Imagine” composed for waif
- Street urchin mostly gambling
Buddy explains!

The straight part
We know that "Young rascal" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case young rascal = gamin.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 GAMIN mean?
GAMIN noun- A homeless boy; a male street urchin; also (more generally), a cheeky, street-smart boy.