Very well, better it, chum! (9)

I believe the answer is:

capitally

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'very well' is the definition.
(I've seen this before)

'better it chum' is the wordplay.
'better' becomes 'cap' (I've seen this before).
'chum' becomes 'ally' (I can't explain this - if you can you should give a lot more credence to this answer).
'cap'+'it'+'ally'='CAPITALLY'

Can you help me to learn more?

(Other definitions for capitally that I've seen before include "Very well" , "Admirably" , "in a fine manner" .)

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