To 'have a punt' means to bet prospectively on something that probably won't win.
"What so you think Shergar is coming in at Cheltenham?"
"Not really, but I'll have punt on that"
"That stuck up bitch over there only sleeps with guys who have at least 10 grand in their pocket and a diamond bed to sleep on"
"Fuck mate, have a punt, if it don't work out, nothing lost."
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