The two-minute ad, which appears during the first break of Gogglebox at about 9.10pm, represents the first time a UK TV show has been produced specifically for use in commercial airtime.
After an opening voiceover from Caroline Ahern, the actor best known for The Mrs Merton Show in the 90s, the cast discuss what they would do if they won the lottery, as well as criticising the ad.
The Gogglebox cast will critique the latest ad in Lotto's "please not them" campaign, featuring Noel Edmonds, who talks about how a lottery win would enable him to copyright house parties (because he presented Noel's House Party in the 90s).
Angus Mitchell, the agency principal at Channel 4, said: "Camelot wanted to drive conversation about playing The National Lottery and their latest 'please not them' ad starring Noel Edmonds, so who better than our Gogglebox families to reflect the nation’s thoughts on the ad and discuss what they'd do if they won."
The deal with Camelot, the operator of the National Lottery, was brokered by its media agency Vizeum, The Story Lab, and Channel 4 Sales.
Twenty second teasers for the ad aired on Channel 4 last Friday and short form edits of tonight’s ad will be published across social media.
Max Lucas, the media strategy manager at Camelot, said: "We are hugely excited to be working with Channel 4 on this exclusive ad campaign.
Lotto is the nation’s favourite millionaire maker and there is nobody more representative of the nation than the Goggleboxers – so this is a perfect fit for us."
Gogglebox is Channel 4’s biggest show this year, attracting an average of 4.9 million viewers per episode, and draws the highest share of 16- to 34-year-old viewers from 9pm on Fridays.
The show has proved fruitful ground for advertisers over the last year. In March the Electoral Commission launched an ad featuring younger cast members which encouraged viewers to register to vote in the General Election.
In October last year John Lewis signed a deal with Channel 4 to incorporate the reality show into its Christmas campaign, created by Adam & Eve/DDB.