It's Italian, and it means 'destiny', or 'fate'.
What Does The Word "Lotto" Mean?
Lotto: A game of chance resembling bingo.
A lottery, usually with an accumulating jackpot in which participants play numbers of their choice in a random draw.
A lottery, usually with an accumulating jackpot in which participants play numbers of their choice in a random draw.
It is being used more and more as a reference to a lottery.