Loteri Cymru will be broadcast on S4C beginning on Friday, 28 April, with a minimum of 20% of proceeds going to grassroots community causes in Wales.
Participants will need to match five of 39 drawn numbers to win the jackpot, with prizes also on offer for tickets matching fewer numbers.
Tickets are £1 and are due to go on sale from 10 April and can be bought by anyone aged over 16.
Loteri Cymru is chaired by former Wales rugby international and WRU chairman, Gareth Davies.
Wales is to get its own televised weekly lottery with a £25,000 jackpot.