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ones lot was originally just ones portion or share or stake in something

the abstract idea comes from the earlier word hlot meaning some object such as a straw or die or chip of wood that represents someones portion in some transaction

or in some gambling game

often with that persons name written on it

& often as used in drawing lots or casting lots

so your lot in life was & remains your portion of it as well as your lottery ticket to it in a sense

the meanings of lot as a plot of land & as a great many came much later & have nothing directly to do with your lot in life

"Lot" can also refer to Lot from The Bible, the grandson of Abraham. Whom, was not super fortunate as were the other members of Abrahams family, such as Isaac and Ishmael (the founding members of the Jewish/Christian and Muslim Religions, respectively). So, "That's you lot in life" seems it could mean we take on the same unfortunate position that Lot of the bible did. Read Genesis for more info.

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