Glenn Higgins and Patsy Jones are a song-and-dance team traveling the vaudeville circuit across the United States, and land in a Kentucky tank-town filled with sharpies and wise-guys , wearing spats and carrying canes, who have reasons for wanting a horse named "Hot Heels, not to win the race he is scheduled to run in. This does not bode well for the vaudevillians as Glenn, acting on a hot tip from a hot vamp, has bet the pair's bankroll on "Hot Heels" to win.

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