Give everybody a share of the booty (5)
I believe the answer is:
allot
'give' is the definition.
(allotting is a kind of giving)
'everybody a share of the booty' is the wordplay.
I cannot really see how this works, but
'everybody' could be 'all' (all people) and 'all' is found within the answer.
'of' could be 'o' and 'o' is located in the answer.
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is present in the answer.
No letters remain.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for allot that I've seen before include "Apportion, share" , "budget" , "Dish out" , "Distribute, give as share" , "deal" .)