Third Time Lucky" was released in February 1931 and was the first film to star Bobby Howes in a leading role. Based on a play by Arnold Ridley, who also wrote "The Ghost Train", and later went on to star in "Dad's Army", "Third time lucky" tells the story of a timid parson (Howes) who steps in to protect his ward from blackmail at the hands of Garry Marsh and Gordon Harker.

Algernon Sprigg, a horse-racing fanatic, is convinced that everyone is a gambler at heart. To prove his theory, he bets a friend that he can convert Amos Purdie, the puritanical head of an anti-betting association, into a punter within a week.