Complex sentence: There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in the first two Legs and the 2nd horse in the third Leg of the three nominated races.
Split into simpler sentences: There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in the first nominated race and the 2nd horse in the second nominated race. Select correctly the 1st horse in each of the three nominated races.