Apportion everybody a share of the loot (5)
I believe the answer is:
allot
'apportion' is the definition.
(I know that apportion is a more specific form of allot)
'everybody a share of the loot' is the wordplay.
I cannot really understand how this works, but
'everybody' could be 'all' (all people) and 'all' is present in the answer.
'of' could be 'o' and 'o' is found in the answer.
'the' could be 't' (the is pronounced as a 't' sound in some dialects) and 't' is present in the answer.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for allot that I've seen before include "appropriate" , "Hand out" , "Dedicate" , "Award (share, task)" , "grant" .)