After losing his money at the races, a racehorse owner's (John McCallum) fiancée (Greta Gynt) jilts him and marries a lord (Raymond Lovell). Whilst drowning his sorrows, the racehorse owner becomes involved in a big-race scandal. The plot is to steal his own prize horse before a race, therefore increasing the odds in another big race, ''the Ascot Gold Cup''. Can he successfully recoup his fortune and also win again in the romantic stakes?