If Not Now When is the bargain filly who has already given her big group of owners plenty to cheer about.

A $15,000 yearling, the small but tenacious If Not Now When has won her only two starts in VOBIS Gold series races in Victoria to earn $234,500 prize money, including bonuses.

"There would probably be 30 to 35 owners in total," trainer Henry Dwyer said.

"There's a few little syndicates, a lot of first timers as well and young people. So they're all very excited, and have been spoilt with their first horse."

If Not Now When was bought at the VOBIS Gold yearling sale in Victoria last year and Dwyer was keen to target a race at Cranbourne which was restricted to horses sold at that auction.

The two-year-old finished strongly to win the $100,000 event on April 1 at Cranbourne, having already won the VOBIS Gold Rush at Bendigo on debut.

"So she doesn't owe anyone anything," Dwyer said.

"And everything from here is upside."

If Not Now When could chase another lucrative prize on Saturday at Caulfield but Dwyer will wait until later this week to confirm a start in the $150,000 VOBIS Gold Ingot (1200m).

"It's 50-50 whether she goes there or goes to a race in Adelaide the following week," Dwyer said.

The option in Adelaide is the Listed Dequetteville Stakes (1050m) which is restricted to fillies and run at set weights.

The Caulfield race is set weights plus penalties and If Not Now When has 58kg which is 2kg more than the other fillies in the entries and the same as most of the colts and geldings.

"We'll definitely accept for Saturday and if she was to draw wide and it was a reasonably strong race then we'd probably pull the pin and go to Adelaide," Dwyer said.

"If she was to draw well and it looked a winnable race, we'd probably run."