I believe the biggest obstacle such idea has is the volume which would be necessary to fulfill the time requirements you are talking about.
Even in large and popular casinos lotteries are set up as weekly events or daily events, so on order for your idea to actually work, you would need to secure enough users from the beginning, so people won't have to wait too much for a smart contract settlement.
You would also need to do such thing using a Blockchain which is fast and with low fees, because if someone likes the service they will try to buy tickets several times or many times in the day.
Actually we could deploy multiple contracts, 10 minutes, 30 minutes window, 1 hour window etc... But maybe if there are too many, it would be not good, because it would split the market, and yeah in the beginning it's not popular so it's just a waste.
Maybe a 1 day rounds window contract could be deployed first.
I was thinking deploy this on the BSC network, because of the low fees. Although it's compatible with ERC20 too, just the fees are too high there.