Understood to have cashed in one's chips (8)
I believe the answer is:
realised
This clue could be a double definition.
'understood' is the first definition.
(I've seen this before)
'cashed in one's chips' is the second definition.
The definition suggests a past participle verb which matches the answer.
'to have' acts as a link.
Can you help me to learn more?
(Other definitions for realised that I've seen before include "Came to be aware" , "Achieved; red aisle (anag.)" , "Became fully aware of or converted into money" , "Understood - cashed in" , "Came to awareness" .)