The record label has cut a deal with Winnipeg, Manitoba, company Pollard Banknote, which runs lotteries in 45 states and territories throughout the world.

Under the arrangement, Pollard has created a series of music-themed, scratch-off lottery tickets that it is currently marketing to state lotteries, according to the Wall Street Journal. Under the plan, winning tickets would award players free music in the form of downloads, ringtones and, of course, cash.

It seems the lottery industry and record biz have something in common – neither is attracting younger customers.

Evidently lotteries are more popular among folks reaching retirement age. Unfortunately for the lottery industry, when those players’ numbers are up, there are no young newbies stepping up to take their place.

Meanwhile, the recording industry’s coffers continue to shrink as young fans eschew buying CDs in favor of illicitly downloading their favorite tunes through peer-to-peer networks.

To alleviate both problems Pollard is looking to the recording industry to help sex up lotteries, while EMI is turning to state-sanctioned gambling to help make up for lost income.

EMI’s part in the lottery scheme calls for the label to operate special Web sites where players can redeem their winning tickets for music prizes such as downloads. For each ticket redeemed, EMI will receive a wholesale payment.

The Journal also reports EMI and Pollard have been working on the lottery concept for the past year.

While no one is disputing the recording industry’s financial problems because of illegal downloading, you can bet there’s going to be some protests if lotteries start selling music-themed tickets. Although Pollard is looking at the concept as a method to introduce lotteries to new players, others will see it as introducing young people to gambling. That’s hardly going to sit well with civic leaders, churches and Gamblers Anonymous.

Should the recording industry partner with lotteries? If so, what about other so-called vice industries? Should cigarette companies offer coupons redeemable for songs? Should liquor companies spike their already fortified wines, those soda pop-like confections meant to acquaint the unacquainted with the joys of fermentation, with discount coupons for CDs?

And what about certain industries that are only legal in certain parts of Nevada? Does the recording industry have something up its sleeve for johns those customers, too?

Click here for the Wall Street Journal article (subscription may be required).