The Spanish verb 'lotear' comes from combining the noun 'lote' (meaning 'lot' or 'portion') with the verbal suffix '-ar'. The noun 'lote' itself was borrowed from Old French 'lot', which meant 'inheritance' or 'portion'. The addition of the '-ar' suffix transformed the noun into a verb meaning 'to divide into lots' or 'to parcel out'.

A simpler and more common related Spanish word is 'lote', which means 'lot' or 'plot of land'. While 'lotear' is the action of dividing something into lots, 'lote' is the resulting portion or parcel itself.

The English word 'lot' is etymologically related to Spanish 'lotear', as both ultimately trace back to the Old French word 'lot'. In English, 'lot' has retained similar meanings relating to portions, plots of land, or allotted shares, just as in Spanish. You can see this meaning in phrases like 'parking lot', 'lot of land', or 'auction lot'.