Sebastian Coe, Chairman of London 2012, will be joined by Olympics Minister Tessa Jowell and an array of gold medal winners for the launch.
The new scratch card is set to be the first in a series of dedicated Olympic lotteries.
The BBC reports that future games could be internet-based as well as themed around one-off events such as the Beijing Olympics in 2008.
Lottery Games are expected to raise around two thirds of the cost of staging the Games. Other streams of revenue will come from International Olympic Committee TV and marketing deals; sponsorship and official suppliers; ticket revenues and licensing.
