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Hapless gamblers Billy (Dean Stockwell), Raymond (Russ Tamblyn) and Frank (Alex Karras) spend most of their time and all of their money at the track, betting and losing on horse races. Disgusted at the amount of cash they've lost on the ponies over the years, the three friends hatch a scheme to make their money back and then some: They'll steal one of the machines that prints out the track's betting slips and use it to place winning bets after the race is run.