underbid

verb

bid lower than

Wiktionary

noun

Etymology: Etymology tree Proto-Indo-European *h₁én Proto-Indo-European *h₁entér Proto-Indo-European *(H)n̥dʰí Proto-Indo-European *-ér Proto-Indo-European *(H)n̥dʰér Proto-Germanic *under Proto-West Germanic *undar Old English under- Middle English under- English under- English bid English underbid From under- + bid.

A bid that is lower than another.

verb

To bid too low.
To bid lower than another.
To bid less than the full value of a hand of cards.