Green’s Dictionary of Slang

buster n.2

also burster
[bust n. (3a)]

1. a libertine.

[US]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].
[US]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.

[UK]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.
[UK]‘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.
[US]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.
[UK]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’.
[UK] ‘’Arry on the River’ in Punch 9 Aug. 57/1: A buster and blow the expense is my plan.
[UK] ‘’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.
[UK]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.
[Ire]Joyce Ulysses 403: All off for a buster, armstrong, hollering down the street.

In phrases

go in a buster (v.)

to commit oneself without restraint, whether financially, emotionally or physically.

[Aus]Bell’s Life in Victoria (Melbourne) 1 Aug. 2/6: ‘I never had the money to go in with [...] if I had, I’d go in a burster’.
[UK]Derby Day 37: But about those swells who ain’t a going in a buster?
[UK] ‘’Arry on Politics’ in Punch 11 May 205/2: My motto is ‘go in a buster, and settle that after the fight.’.
[UK]D. Stewart Dead Man’s Gold in Illus. Police News 10 Apr. 12/1: [of a fraud] ‘You’ve gone in a buster [...] so you’re not such an infernal dummy as you would have us believe’.