Drs. Homer Pecke, Gurke, Pembroke, Collyer, and Ann Wotters - Dr. Pecke's pretty niece - work as scientists at the Brockhurst Institute of Research. Requesting $20,000 of additional funds from the trustees of the Institute to continue his research for another three years, Dr. Pecke is instead let go because of lack of funds. Stemming from a conversation with the Institute's janitor, Drs. Gurke, Pembroke and Collyer come up with the idea to save Dr. Pecke's job and his research that they can pool their leftover money - one-tenth of what Dr. Pecke requires - and bet it on a ten-to-one horse at the racetrack after they scientifically determine which horse will win, that plan despite none of the three knowing anything first hand about horses, race or otherwise. They are eventually able to convince Ann to join them in this pursuit. In the process, they meet race horse owner Steve Canfield, his horse, Mr. McGillicuddy, which the scientists place most of their hopes. What the three elderly male scientists also see happening is that Steve and Ann are starting to fall for each other, the two of them getting together which becomes as important to them as getting Dr. Pecke's money. Two things factor into if there is a happily-ever-after for Steve and Ann: the fortunes of Mr. McGillicuddy, especially as it relates to what Steve does; and the presence of fellow race horse owner Hilda Spotts, she and Steve who have known each other for years, have had a casual thing with each other over much of that time, and who make more sense on paper both professionally and personally than Ann and Steve.