I'm a bit confused as to the difference between arrogant and conceited.
From my understanding, arrogance is the equivalent of being confident but rubbing it in people's faces. For example, achieving the top of a leaderboard and then boasting about how great you are.
Conceit, I believe, is similar in that you may be boasting, but it's based more on unfounded measure. For example, they may make third place in the a race against the arrogant man, but they feel they would have gotten first place if only they had gotten an hour of sleep more. So conceit comes in their coping with not being so great, while the arrogant individual will at least admit defeat and be unable to rub their greatness in someone's face.
What are the exact differences between these words?