Billy Lott was born November 8, 1934, in Sumrall, Mississippi. A graduate of Sumrall High School, he became a standout football player at the University of Mississippi from 1956 to 1958. He was named All Southeastern Conference in 1957.

He was drafted by the New York Giants in the 6th round of the 1958 NFL Draft and played defensive back for them in 1958, before being cut in 1959. He went on to play with the Oakland Raiders in the newly formed American Football League in 1960.

He was traded with Babe Parilli to the Patriots in 1961, where he spent three seasons playing fullback. He put up solid numbers in 1961, carrying the ball for 461 yards and five touchdowns, but was sidelined for much of 1962 with a knee injury. His career never got back on track and he was out of football after the 1963 season, as the Patriots made it to the AFL Championship Game. With the Patriots, Billy rushed for 573 yards and received 36 passes for 395 yards, and scored 14 touchdowns.

Billy Lott died on May 15, 1995, at 60 years old.