Here is what it would be where 1 is your top horse 2 is your second etc...
This is a two condition p4 where you have to get two key horses out of 4.
This is playing both horses as key in the last race and only having 1 key horse in the other three races.
Ticket 1: 1 / 2 3 4 5 / 2 3 4 / 1 2
Ticket 2: 1 2 3 4 / 1 / 2 3 4 /1 2
Ticket 3: 1 2 3 4 / 1 2 3 4 5 / 1 / 1 2
$44 total
You have to win two races this way, one of which is the last which you only have two horses anyway. So you have to get your top horse in one of the other 3 races.