A company I worked for tried something like this with attendance, except that it was shit-tier prizes like barely useful desktop computers, odds n ends, a couple hundred bucks. You got tickets for showing up every day, and put them in a drawing at the end of the quarter. The program was supposed to run for 3 years, at which point everyone that had no unexcused absences would be put into a drawing for a shit car. I don't remember exactly how many prizes there were, but most of them were just garbage you'd take home and throw away (mugs, t-shirts, $5 gift cards to some expensive place.) Maybe 5 good ones for a company of 5,000 people.
It failed spectacularly because the people taking the time didn't care anyway (the prizes weren't enough to get them to show up) and the rest of the people basically ignored it because the prizes weren't much more than trinkets. The program was cancelled 3 quarters in, and the general feeling was that the company should have taken all those shit prizes, converted them to cash, and given everyone that met certain criteria a quarterly bonus.
I imagine this program will be similar, some will jump on it because they play the lottery, but most won't care a whole lot because they can see the odds of getting anything out of the program are small.
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