Runner defeated in close race (5)

I believe the answer is:

loser

I'm a little stuck... Click here to teach me more about this clue!

'runner defeated' is the definition.
Although both the answer and definition are singular nouns, I can't understand how one could define the other.

'in close race' is the wordplay.
'in' indicates the answer is hidden within the clue.
'LOSER' is hidden within 'close race'.

Can you help me to learn more?

(Other definitions for loser that I've seen before include "Someone who fails consistently" , "one plays without success" , "One who is (always) unsuccessful" , "One who is always a failure" , "One vanquished" .)

I've seen this clue in The Globe and Mail.

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