Yes Forfeit is conceding to an automatic loss.
Yes, a major league baseball team has been forced to forfeit a game when it is losing badly. There have also been teams that have been forced to forfeit due to a crowd that was too rowdy.
The word "forfeit" can be used as both a verb and a noun. As a verb, it describes the action of losing or giving up something as a penalty. As a noun, it refers to the penalty or loss incurred.
The Netherlands
Holland were the loosers in the 1974 and 1978 finals.
forfeited
Yes, they can forfeit.
If you don't appear in court, you will forfeit your bail.
The prefix of forfeit is "for-", and the suffix is "-feit".
In ordinary usuage, "forfeit" means to relinquish your rights, as in: "I choose to forfeit my rights to the property that I own".
You forfeit your right to choose.
"He would have to forfeit his turn to answer the telephone."