ballotballot2 verb (past tensepst and past participlepp balloted or ballotted British EnglishBrE, present participle balloting or ballotting) British EnglishBrE [intransitiveI, transitiveT]1to ask people to vote in order to decide somethingThe chairman is elected by ballotting all the shareholders.
My union is at present ballotting to decide on industrial action.
2FINANCE to choose who will get shares when there are too many requests for shares that are being made available for the first time