Crossword Genius

It offers various penalties (8)

Ross

I believe the answer is:

forfeits

'penalties' is the definition.
(I know this)

'it offers various' is the wordplay.
'various' indicates an anagram.
'it'+'offers'='itoffers'
'itoffers' with letters rearranged gives 'FORFEITS'.

(Other definitions for forfeits that I've seen before include "Things paid or given as penalties" , "Gives up, sacrifices" .)

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