Sorry, I guess I should have pointed that out. It's for all 3 races.

The 3 horses that you end up with can earn points in all 3 races. And that is factored into the points values given to each horse. For example, Speed Gifted is favourite for the Caulfield Cup AND 2nd favourite for the Melbourne Cup. That's why it's points value is so much higher than the others. So that's another thing to take into consideration.