Concede
Definition 1 of 4
Pro Tip 1/2
Accepting Defeat
Use 'concede' to show you gracefully accept loss, without excuses or blame. Despite the close race, she conceded defeat.
Pro Tip 2/2
Admitting Truth
Use 'concede' when reluctantly agreeing with a fact or opinion you opposed. I have to concede that you've got a point.