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pip2 past tense and past participle pipped, present participle pipping [transitive] British English informal
1 to beat someone at the last moment in a race, competition etc, when they were expecting to win : 
The Maclaren team were narrowly pipped at the post by Ferrari.
pip somebody at the post
The Maclaren team were narrowly pipped at the post by Ferrari.2 to beat someone in a race, competition etc, by only a small amount
