To overcome, or get the better of, by cunning or cleverness.
To be more intelligent than.
To surpass in cleverness or cunning; outsmart.
To win at chess, you must outwit your opponent.
To outwit is to beat someone or defeat them because you are smarter or more clever.
If you beat your opponent at a game of strategy because you are more adept and more clever at the game, this is an example of when you outwit your opponent.
Origin of outwit
From out- +"Ž wit.