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Plunger

One who plunges, or spends money recklessly in bets, etc. The Marquis of Hastings was the first person so called by the turf. One night he played three games of draughts for 5,000 in an hour and a half. He paid both debts at once before he left the room.

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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