The Collaborative International Dictionary of English v.0.48:

Worst \Worst\, v. t. [imp. & p. p. Worsted; p. pr. & vb. n.
   Worsting.] [See Worse, v. t. & a.]
   To gain advantage over, in contest or competition; to get the
   better of; to defeat; to overthrow; to discomfit.
   [1913 Webster]

         The . . . Philistines were worsted by the captivated
         ark.                                     --South.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Worsted \Worst"ed\ (?; 277), n. [From Worsted, now spelled
   Worstead, a town in Norfolk, England; for Worthstead. See
   Worth, n., and Stead.]
   [1913 Webster]
   1. Well-twisted yarn spun of long-staple wool which has been
      combed to lay the fibers parallel, used for carpets,
      cloth, hosiery, gloves, and the like.
      [1913 Webster]

   2. Fine and soft woolen yarn, untwisted or lightly twisted,
      used in knitting and embroidery.
      [1913 Webster]

WordNet (r) 3.0 (2006):

worsted
    n 1: a woolen fabric with a hard textured surface and no nap;
         woven of worsted yarns "he wore a worsted suit"
    2: a tightly twisted woolen yarn spun from long-staple wool
       [syn: worsted, worsted yarn]

Moby Thesaurus II by Grady Ward, 1.0:

44 Moby Thesaurus words for "worsted":
   all up with, beat, beaten, bested, confounded, defeated,
   discomfited, done for, done in, down, fallen, fixed, floored,
   hors de combat, lambasted, lathered, licked, on the skids, outdone,
   overborne, overcome, overmastered, overmatched, overpowered,
   overridden, overthrown, overturned, overwhelmed, panicked,
   put to rout, routed, ruined, scattered, settled, silenced, skinned,
   skinned alive, stampeded, trimmed, trounced, undone, upset,
   whelmed, whipped