TL;DR why do online syndicates of, e.g. a System 18 ticket (no idea on actual price, just an example) costing ~$12,000 split across 400 people, coming to only $30 a share, not exist (at least that I could find, anyway).
I was in a discussion recently about joining a managed syndicate through some online reseller, preferably a large System <N> entry to maximise chances of winning something, but it seems that System 18 online syndicates don't exist. Even for the syndicates that do exist, they're limit to a fairly low number of shares, so someone with say a small budget of $30 who wants to roll the dice (but let's be honest, throw away a small amount of $) is stuck with the option of joining a syndicate of the lower chance tickets, like a large number of random games, as even say System 11. A commonly stated reason is so that when people win, they still win a reasonably sized jackpot.
Is there some legal reason for such an option not existing? Or is it purely a business decision, where the lottery resellers have found that their target market (of gamblers, to varying degrees) aren't interested in having a much higher relative chance (while still being miniscule) of winning a small prize, vs. having virtually no chance of winning a large jackpot amount?
E.g. if we theoretically had a ~$12,000 ticket split across 400 people that would cost them $30 each, and that particular ticket won $12,000,000, each winner would end up with "only" $30,000, which is a very decent amount of money if used well.
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