The Guardian says that Camelot, the operator of the National Lottery, is close to finalising a new multi-year deal with the BBC, and papers could be signed this week.
The newspaper does not cite a source as being behind the claims.
The corporation has held rights to the National Lottery for 18 years, but its current deal expires at the end of December.
It is unclear how long the new deal could be for, but it is expected that it will push the BBC's relationship with the lottery past two decades.
The BBC fended off a challenge from ITV for the National Lottery rights in 2006, after the commercial rival made the attractive offer of running the draw around hit show The X Factor.
However, The Guardian reports that Camelot has not held any talks with rival broadcaster this time around.
The BBC is said to view the National Lottery as a key part of its BBC One weekend lineup. It has held rights to the live draws since November 1994, when more than 20m viewers watched Noel Edmonds call the first numbers.
Asked about a possible new deal, a BBC spokeswoman sad: "We are in discussions with Camelot about the future of shows on the BBC, but we will not be losing the National Lottery from BBC One."
Camelot chief executive Andy Duncan added: "We have had a long-term and very successful partnership for TV shows on the BBC, and we would expect that to continue."
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