Beaten by a whisker (7)

I believe the answer is:

whipped

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'beaten' is the definition.
(whipping is a kind of beating)

I cannot understand how the remainder of the clue works.

(Other definitions for whipped that I've seen before include "Stolen; chastised" , "Lashed" .)

I've seen this clue in The Guardian, The Telegraph and The Irish News.

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