A more thorough explanation:

Definition: A bunco steerer is someone who uses illegal methods to obtain money or property from others. They may use tricks, schemes, or other deceptive tactics to swindle their victims. In bunco, a bunco steerer acts as a decoy to lure in unsuspecting victims.

Examples: A common example of a bunco steerer is a scam artist who calls people and pretends to be from the IRS, demanding payment for back taxes. Another example is a person who sets up a fake charity and collects donations from people who believe they are helping a good cause. In bunco, a bunco steerer might pose as a wealthy investor looking for partners to invest in a lucrative business opportunity.

Explanation: These examples illustrate how bunco steerers use deception to trick people into giving them money or property. They often prey on people's trust and goodwill, using false promises and fake identities to gain their victims' confidence. In bunco, the bunco steerer's role is to create a sense of excitement and urgency around the supposed opportunity, making it seem like a once-in-a-lifetime chance to make a lot of money. However, in reality, the bunco steerer is only interested in taking the victims' money and disappearing.