If you had to choose:
Same work, less hours, same pay and a sure thing...
Same work, more hours, a lot more pay and you have a 50-50 chance of getting said job, but you only get the 50-50 chance if you give up the sure thing. Meaning...you still might not get it.
Not your dream job, but work is work. Factor in you want to get the heck out of your current situation because they're working you to death without as much pay...Which would you pick?