syndicates would tend to drive EV toward 0, but, not eliminate it ... if one or more syndicates bought tickets to the point EV was negative, after costs etc., i

syndicates would tend to drive EV toward 0, but, not eliminate it ... if one or more syndicates bought tickets to the point EV was negative, after costs etc., it would be self-defeating. The main point remains that just because something is EV-positive does not mean that betting on it is a good strategy, if you are forced to size your bets inappropriately. Maybe the title should have been, 'why only millionaires and syndicates should buy lottery tickets.'