If this is an abnormal risk for him....
Take the dog at 25% of potential payout for both games. He potentially can win all 3 wagers.
If he bets 1k units normally then keep it as it holds the most value.
If..
he is poor now and money is more valuable to him he could call the book and offer to sell it at slightly less than the best odds that they WON'T win it. This could be the way to go if he wants 7k guarenteed but doesn't have that kind of cash to lay now.