The 7 and 1 are the horses to beat.
The value dictates the (7) as the lone bet.
Or you could bet both. I find no problem with that if you are the one who is doing the betting.
If the (1) wins you might get back $6.00 or $7.00 for a $4.00 bet.

Not much of a return but it sure beats losing. Then again you could lose 2 bets instead of 1 and be that much more behind.

Oh well.