forfeit
FOR-fitverbMeaning to lose something as a penalty
Memory hook too FEW to play: FOR-FEIT. Only three players show up for the big final, so the team must give up the game and the trophy without playing; they forfeit.
The team forfeited the game when only six players showed up.
In context Because she returned the library book a full year late, Maya forfeited her borrowing privileges for the rest of the summer.
Similar lose, give up, surrender, sacrifice
Opposite win, keep, gain
From Old French forfait, “a crime,” from forfaire (to do wrong): fors (outside) + faire (to do).