Green’s Dictionary of Slang

1. a libertine.

1831		Boston Transcript 26 Apr. 2/2: Now he is fairly initiated into the various grades of dissipation, and is looked upon as a ‘Regular Burster’ [DA].
1842		Whip & Satirist of NY & Brooklyn (NY) 5 Feb.. n.p.: Not a rum-head took a parting cup, / O’er the grave where our buster we buried.

2. a spree; thus rare buster, implying at high speed; in horseracing, a high bet.

1844		New Sprees of London 15: There are some tidy busters here ; the water drinkers are rather liberal in their tippery, so that they cop some bona cullies to fake the slum.
1846		‘Epistle from Joe Muggins’s Dog’ in Era (London) 27 Dec. 3/4: ‘O mini beati Martini’ (excuse the dog Latin ! I saw this prad of theirs, the Miss Martin colt, go a burster, and no mistake.
1872		Schele De Vere Americanisms 587: Bursted, a false participle from burst, is often used in the South to give emphasis to the word [...] The more familiar slang phrase is to bust, and hence buster, in the sense of a reckless spree or frolic.
1873		J. Greenwood In Strange Company 41: It is seldom, however, than an opportunity occurs for his indulging in what [...] he calls a ‘reg’ler buster’.
1879		‘’Arry on the River’ in Punch 9 Aug. 57/1: A buster and blow the expense is my plan.
1895		‘’Arry on the Elections’ in Punch 27 July 39/1: We dashed [...] up the ’igh street a rare buster, ’oorayed by the bhoys at the Pubs.
1916		W. Pett Ridge Madame Prince 270: He ’pears to have made up his mind to go a reg’lar buster, backing ’orses for more than he’d ever done.
1922		Joyce Ulysses 403: All off for a buster, armstrong, hollering down the street.