When the box-office manager takes off with all the money belonging to a traveling theatre-troupe, the show's promoters and leading performers, Bill Potter and Jim Truman, have to sell off of the show's assets to a theatre in Newcastle in order to pay the actors. They have enough money left over to open up a bookie's stall in London taking bets on greyhound-racing. The local bookies send a stooge around to give them some false inside-information and they can't cover the losses they garner using the incorrect-odds, and have to sell everything they own. All that is left is a greyhound puppy which Bill determines he will train for racing and make a fortune. And then bad things really begin happening to Bill including having to escape prison, on a trumped-up charge, as part of the rubbish carried off in the garbage lorry.