it does however significantly increase the odds of winning a smaller prize.
Also These type of Lotteries are meant for entertainment. in which case this has been very entertaining and for $2 thats a steal.
So now you're more likely to win back a $4 prize for which you'll give back 10 cents to everyone?
You would get the same dreams of grandeur with 1 ticket as with 40 tickets, except you saved $78 from being thrown away.
I'd argue your "odds" would be better if you donated the $78 difference to a worthy charity rather than state coffers and used $2 for a single ticket.