College student Jimmy Shaw (Bruce Bennett) inherits a racehorse, named Lightning Lad, and sells stock to fellow students in order to obtain funds for racing the horse. Lightning Lad wins very race he is entered in. Marion Braddock (Toby Wing), a spoiled rich girl who owns a racing stable offers to buy Lightning Lad, but Jimmy refuses to sell. The day of the big handicap-race arrives and Jimmy and his fellow stockholders are on their way to the track. But a group of gamblers, betting on Lightning Lad to lose, have some skulduggery plans to ensure Lightning Lad does not win the race.