I think I would be ok in participating in a lottery like that, but are there companies interested in that? People can just create emails for that lottery, and never use them again. If the site had a lot of traffic and companies had their banners there, I would understand why they would consider sponsoring the website, but just to get an email address that will probably be created just for that purpose I don't think so, but maybe I'm wrong.
Also what would prevent people from creating hundreds of email addresses to participate in the lottery?
It's a risk that people only create an E-Mail to participate in that lottery, but you can't take part with one of that "one-way" addresses, you have to claim your prize from that address. And the prices will not be that high that it's worth to create dozens of real E-Mail addresses.
It would be interesting for ICOs maybe.
The thing is, people here in the crypto world, value their identities. They would not freely just share their information on their identities just like that. Because there is a high chance that their identities would be used for malicious intentions. I guess, it would be a good concept, but usually lotteries don't really get enough attention in the crypto gambling world since the prizes are pretty small, comparing it to how much they could win on the real world lotteries.