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The races involved tiny crocs being released in the middle of a circle of hay and sprinting toward the outer barrier.
"Horses are overrated, crocodiles are going to be the new thing of the future," pub owner Ian Sloan told the Australian Broadcasting Corp.
Sloan, who also held cane toad races the same day, said the racers don't have much of a future in the sport.
"The cane toads will be best case put in the freezer, worst case we kick em over the fence," he said. "And the crocodiles -- handbags, purses, or salt and pepper squid tonight for a special."