The verb allot means to give or allow a share or portion of something.
A lot means a large amount. (A lot is often a less formal way of saying many or much).
Always spell a lot as two words, not one. (Alot is regarded as a misspelling of a lot.) See Avoid These 10 Words in Formal Writing.
Also see the usage notes below.
- “[E]very college has its own application, so you have to allot a certain amount of time for every application you have to complete.”
(Alison Cooper Chisolm and Anna Ivey, How to Prepare a Standout College Application, 2013)
- When I was younger, my mother and I moved around a lot, so I changed schools all the time.
- “He had a soft southern accent and he laughed a lot, disclosing teeth too white and too even to be anything but 1950 vintage Sears and Roebuck dentures.”
(Stephen King, The Shining, 1977)
- “She leads him past a hall and staircase into a cool room with a high ceiling and silver wallpaper, a piano, watercolors of scenery, [and] a lot of sets of books in a recessed bookcase.”
(John Updike, Rabbit, Run, 1960)