Better chess opening, taking a pawn (3)
I believe the answer is:
cap
'better' is the definition.
(both can mean to beat somebody else's attempt)
'chess opening taking a pawn' is the wordplay.
'opening' says to take the initial letters.
'taking' says to put letters next to each other.
'pawn' becomes 'p'.
The initial letter of 'chess' is 'c'.
'c'+'a'+'p'='CAP'
(Other definitions for cap that I've seen before include "Peaked hat" , "Set limit to price increase - of headgear?" , "Outdo; brimless hat" , "cover" , "Dental work" .)