Administrators have sold the collapsed Loteri Cymru to another operator which intends to relaunch the game.
The Welsh lottery went into administration in March, leaving more than 10,000 customers unable to access money in their online accounts.
At the time Loteri Cymru, which was broadcast on S4C, said it had a "growing base of loyal weekly players" but too few to make it viable.
Players with money in accounts can play in the new lottery or get a refund.
BBC Wales understood that S4C's commercial arm, SDML, was the main financial backer for Loteri Cymru.
Administrators have sold the business and assets to Sterling Management Centre Limited, which operates lotteries for several large UK charities.
"Sterling will be in contact with all players with money in wallets over the coming weeks," said the administrators.
It will also continue to support Welsh charities from funds generated from the lottery in the future.
During Loteri Cymru's operating period on S4C, it distributed £120,000 to charitable causes in Wales and more than £350,000 in prize money, with a jackpot of £25,000.