Considering multiple winners of the same prize is important. When the prize gets bigger, more people play. If the number of people playing doubles, it effectively cuts your expected winnings in half.
Even using the 1/176,000,000 figure, you have to include the probability of sharing the prize in your expected value calculation or it’s a bad calculation.
If your expected value was positive, those running it wouldn’t be able to make any money, now would they ?
