Yet more playing on it, one sharing out cuts (8,7)
I believe the answer is:
national lottery
'out cuts' is the definition.
The definition suggests a singular noun which matches the answer.
'yet more playing on it one sharing' is the wordplay.
I cannot really understand how this works, but
'playing' could be 'at' (I've seen this in other clues) and 'at' is present in the answer.
'on' could be 'o' (I've seen this in other clues) and 'o' is present in the answer.
'it' could be 't' (abbreviation. e.g. in 'tis) and 't' is found in the answer.
'one' could be 'er' (I've seen this in other clues) and 'er' is found within the answer.
This explanation may well be incorrect...
Can you help me to learn more?
(Other definitions for national lottery that I've seen before include "that country plays for a draw" , "fundraiser" , "Game with very little chance of winning" , "sponsor of good causes" , "A gamble" .)