allot vs. a lot

verb (used with object)

allotted, allotting 
  1. to divide or distribute by share or portion; distribute or parcel out; apportion.

    to allot the available farmland among the settlers.

  2. to appropriate for a special purpose.

    to allot money for a park.

  3. to assign as a portion; set apart; dedicate.

noun

  1. lot.

adverb

  1. lot.