Frankie Reynolds (Frankie Darro'), youngest member of a family of jockeys, borrows $4.85 (yes, four dollars and eighty-five cents) from his sister Phyllis (Gladys Blake), who is not a jockey, to buy a crippled colt from the stables owned by Clay Harrison (Kane Richmond). He nurses the colt back to health, and in two years has one of the fastest horses in the country. He borrows money from his pals to enter his horse in the opening race of the meet. The favorite, from the Harrison stables, is to be ridden by his brother Smokey (James Eagles as Jimmie Eagles). Race track racketeer Tex O'Donnell (Matthew Betz) frames Smoky and keeps him from winning the race, which Frankie wins. Smokey is ruled off the track for life. Frankie innocently has been responsible because of $500 he has accepted for his brother from a drunk named "Legs" (Arthur Housman). Frankie swears to find the drunk and clear his brother.