The stooges are cheated into trading their restaurant for Thunderbolt, a washed-up race horse, and enter the horse racing industry. When Curly feeds Thunderbolt some chili pepperinos, he runs like crazy towards the nearest water trough. The boys quickly discover Thunderbolt's sudden burst of speed and enter Thunderbolt in a big race. With jockey Larry feeding Thunderbolt the pepperinos, and Moe and Curly on a motorcycle leading him with a bucket of water, they win the race. Finally, the stooges enjoy the good life as they each eat their own turkey and Thunderbolt eats peanuts out of a large bowl in celebration.