Operator Camelot today announced the new "annuity game" jackpot that could set a player up with a four-figure income every month for 25 years.
Along with the new prize, another feature to be introduced from November will see anyone matching five balls plus the bonus ball winning a fixed £1million.
A statement from the company said: "We're still in the process of getting agreement from our regulator, but are currently finalising details for a brand new annuity game – something very different to the big jackpot draws.
"The game will give winners a regular set amount of money for a certain number of years.
"It isn't due to launch until next year, so we don't yet have any exact information on the prizes or the cost of play.
"We'll provide an update as soon as possible."
The changes were in response to an in-depth review launched last year after sales dropped 8.8 per cent in 2016/17 compared to the previous year.
Camelot chief executive Nigel Railton said: "It was clear from the review that we needed to create a more appealing and balanced range of games that offers something for everyone."
The review found that when Lotto changed in 2015 so that gamblers picked six numbers from 59, rather than 49, the game resembled its high-stakes sibling EuroMillions too closely because it became harder to win.
IN THE MONEY: The UK's biggest UK Euromillions lottery winners ever
1. Colin and Chris Weir won £161million on the EuroMillions in 2011.
They splashed out on a stunning mansion and, included in their first purchases were a checked sports jacket, a computer and a tractor.
The Scottish couple initially bought Knock House near Largs but last year they sold their mansion in favour of an even bigger pad in Troon.
2. Adrian and Gillian Bayford won £148million on the EuroMillions in 2012.
Last summer he went back to work after he claimed he was getting "bored" at his £6 million country mansion.
In February 2017 the wealthy winner's younger girlfriend left him and his home was raided in a £100,000 burglary, all in the space of a few weeks.
3. The Davies family won £61 million on the EuroMillions in 2016.
The Welsh family said they were the "luckiest people on the planet" after scooping an enormous amount of cash.
The jackpot will only be allowed to rollover five times in the future, compared to 10 currently.
The money will roll down to the fixed categories on the sixth draw, boosting the coffers.
Five balls will win at least £1,750 and four £140, both increases from their current estimated values, and three balls will net £30, up from £25 now.
Wednesday's base jackpot will increase from an estimated £1.8million to £2million, and Saturday's from £3.1million to £3.8million.
The maximum amount on a rollover will decrease, however, from £22million currently to an estimated £11million on a Wednesday and £12million on a Saturday.
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