The phrase "to settle for a point" means being satisfied with earning only one point or achieving a draw in a game or competition, instead of aiming for a win. Full definition
As ever I am hoping for a win but would settle for a point in a game where I believe both teams will score. (westhamway.net)
While finally, Chelsea had to settle for a point after Klaas Jan Huntelaar's goal mid-way through the second - half. (caughtoffside.com)
Stoke remain in the relegation places after an error from goalkeeper Jack Butland meant they had to settle for a point from a 1 - 1 draw with Leicester. (itv.com)