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mug punter

British  

noun

  1. slang a customer or client who is gullible and easily swindled

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

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The unpredictability of the course makes it a field day for the mug punter, as was the case last year when 100-1 shot Mon Mome pulled off a shock victory.

From The Guardian Apr. 10, 2010

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