The stooges are gypped into trading their restaurant for "Thunderbolt", a washed up race horse. When Curly feeds Thunderbolt some chili pepperinos, he runs like crazy towards the nearest water. The boys 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.

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