According to a few forum posts from Turbine staff and eyewitness accounts, it looks like lotteries are returning to The Lord of the Rings Online in the very near future!
Lotteries, if you aren't familiar with them, offered players a chance to win in-game items simply by entering a random lottery drawing of community members.
Nearly all character advancement in Lord of the Rings Online requires time in-game, playing and questing before you can level up or earn better weapons or items. The lottery gives players a chance to bypass that and win awesome in-game prizes!
Sapience, a community specialist at Turbine, had a word of advice, however, concerning lotteries:
"A word of caution. Lotteries are not 'back'. Not quite yet. We're still making sure that some things (like Europeans being able to enter and win - which we've confirmed is happening) are where we expect them to be. With that said, if all goes well I think you can expect the lotteries to well and truly back by this weekend."
So, be sure to check out http://my.lotro.com/ to keep a close watch on when the lottery system is fully re-implemented and good luck!