Pronunciation: [wɒst wˈɒnz lˈɒt] (IPA) 
The correct spelling of the phrase "wast ones lot" is actually "was one's lot". The use of "wast" is an archaic form of the verb "was" and the apostrophe is used to indicate possession. The phonetic transcription of this phrase is /wɑz wʌnz lɑt/. "Waz" is pronounced with a short "a" sound, "wunz" is pronounced with a short "u" sound, and "lat" is pronounced with a short "a" sound followed by a "t" sound.
"Waste one's lot" is a phrase that typically refers to the act of squandering or wasting one's opportunities or resources that are allocated or given to them. The term "lot" in this context can be understood as the share, portion, or destiny that is assigned to an individual. It signifies the circumstances or conditions in which a person exists, including their abilities, resources, and opportunities.
To "waste one's lot" implies that a person has failed to make the most of the situation or advantages they have been granted. This can occur when someone neglects or misuses their talents, fails to capitalize on their potential, or makes poor choices that result in a loss or decline of their circumstances. It can also involve not taking advantage of opportunities that have been presented to them or not making the most of the resources at their disposal.
The phrase suggests that individuals have been given a certain set of circumstances or abilities, which can be seen as a unique and specific lot in life. The concept of "wasting one's lot" emphasizes the idea of wasted potential or missed opportunities, highlighting the regret or disappointment that arises from not fully utilizing or maximizing the advantages that one has been given. Overall, the phrase serves as a reminder to seize the opportunities in one's life and to make the most of the circumstances one finds themselves in.
