Readily accept emblem (not half!) with speed contest (7)
I believe the answer is:
embrace
'readily accept' is the definition.
'embrace' can be an answer for 'accept' (embracing is a kind of accepting). I'm not certain of the 'readily' bit.
'emblem not half with speed contest' is the wordplay.
'not half' means to take half the letters.
'with' is a charade indicator (letters next to each other).
'speed contest' becomes 'race' (I've seen this before).
'emblem' cut in half is 'emb'.
'emb'+'race'='EMBRACE'
Can you help me to learn more?
(Other definitions for embrace that I've seen before include "bear-hug?" , "Hug heartily" , "Hold in one's arms" , "Include (in one's arms)" , "Include, contain" .)