Hi Merriguy,
What Pixie is tying to do, is bet his say, 2 selections as one bet by spreading the outlay for that race over say 2 horses at their respective prices, staggering the bets..
This is done to reduce the exposure of liability on the race, should a high priced selection win instead of loosing.

He is Dutch Lay betting the selections, so as to reduce his exposed liability on the races .
If all of the selections fall over, he collects .
If say 1 of the gets up to win , he does not get hit so hard , as if he would of have, if he had placed 2 individual bets on the same race.

The general idea can work well.

Cheers.

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Cheers.