The court was told of an unusual betting plunge on an option that the first point in the Townsville game would be scored from a Cowboys penalty goal.
Bulldogs forward Ryan Tandy was penalised two minutes into the game for impeding a Cowboys player in front of the posts, after he spilled the ball and gave away possession.
The Cowboys were awarded a penalty but took the option of a tap kick and scored a try.
The Cowboys penalty goal option was the first leg of Elias' multi-bet, but the magistrate noted this did not eventuate.
He said there was absolutely no evidence before him in relation to the four other legs and the outcomes.
He referred to evidence given about Ryan Tandy and Sam Ayoub, who was the footballer's manager.
He said the case would have been run a lot better, more easily and "more successfully" had they been charged with a conspiracy, when evidence would have been admissible when given against each other.
But he concluded the prosecution had failed in the current case and dismissed the charge against Elias.
- AAP