Attested 1788, a loan from Hindustani लूट /لوٹ lūṭ (spoil, booty), from Sanskrit लुण्ट luṇṭ "to rob, plunder". The verb is from 1842. Fallows (1885) records both the noun and the verb as "Recent. Anglo-Indian".
In origin only applicable to plundering in warfare. A figurative meaning developed in American English in the 1920s, resulting in a generalized meaning by the 1950s
- plunder, booty, especially from a ransacked city.
- (colloquial) (US) any prize or profit received for free, especially Christmas presents
- 1956 "Free Loot for Children" (LIFE Magazine, 23 April 1956, p. 131)
- (video games) Items dropped from defeated enemies in video games and online games.
Related terms 
- to steal, especially as part of war, riot or other group violence.
- 1833 "Gunganarian, the leader of the Chooars, continues his system of looting and murder", The asiatic Journal and monthly register for British India and its Dependencies Black, Parbury & Allen, p. 66.
- (video games) to examine the corpse of a fallen enemy for loot.
- Samuel Fallows, The progressive dictionary of the English language: a supplementary wordbook to all leading dictionaries of the United States and Great Britain (1885).
Middle Dutch 
- IPA: /loːt/
loot n (stem lod-)
- lead (metal)
- Dutch: lood