But in a general lottery (random) it makes more sense to put $50 into a single lottery than $1 in 50 lotteries. That's the only way to improve your chances.
If there's any chance at all that the lottery does not draw from an equiprobable distribution and some numbers are privileged - but you don't know what they are, it's best to spread your bets to increase the chance that you bet on the hot number by accident. This is true if a single number has any edge eps>0. Therefore you should almost always (with probability 1) spread your bets.
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But in a general lottery (random) it makes more sense to put $50 into a single lottery than $1 in 50 lotteries. That's the only way to improve your chances.
Wait, what?
If there's any chance at all that the lottery does not draw from an equiprobable distribution and some numbers are privileged - but you don't know what they are, it's best to spread your bets to increase the chance that you bet on the hot number by accident. This is true if a single number has any edge eps>0. Therefore you should almost always (with probability 1) spread your bets.