underbid

/AH1 N D ER0 B IH0 D/
noun
  1. 1

    A bid that is lower than another.

verb
  1. 1

    To bid too low.

  2. 2

    To bid lower than another.

  3. 3

    To bid less than the full value of a hand of cards.

Source: https://en.wiktionary.org/wiki/underbid