A Thoroughbred makes the long journey from initial training and workout to ultimate triumph as a champion horse.

Mason is a former race-horse owner who gave up everything and started to drink after the death of one of his jockeys. One day he meets Goldie who has run away from home, hoping to find a job around horses; his biggest hobby. When he finds out the real identity of Mason, Goldie takes care of him. The two find an occasion to buy a horse for only two dollars, and start entering competitions. Goldie is an instant celebrity, but his mom reads the newspapers and tracks him down. Mason is very surprised to see her, his ex-wife, and even more astonished to hear that Goldie is his own son. However, Goldie must go back to school and so they decide to keep the secret. Since Goldie does not want to leave Mason behind, he goes to the bookies and fixes the next race, hoping to disappoint Goldie by asking him to lose on purpose.