Yes, BAMBOOZLE is a Scrabble word!

Letter values in Scrabble US: B 3, A 1, M 3, B 3, O 1, O 1, Z 10, L 1, E 1.

Is it a valid word?

BAMBOOZLE is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

conceal one's true motives from especially by elaborately feigning good intentions so as to gain an end

Also: pull the wool over someone's eyes, lead by the nose, play false.