An Etymological Dictionary of the German Language/Annotated/Lotter-

by Friedrich Kluge

Lotter-, in compounds like Lotterbube, ‘vagrant, knave,’ from Middle High German loter, ‘slack, light-minded, frivolous, knave, ne'er-do-well, buffoon,’ Old High German lotar, ‘empty, vain’; compare Anglo-Saxon loddêre, ‘villain.’ Allied to liederlich.