John "Lucky" Garnett, a talented dancer and gambler, is set to marry socialite Margaret Watson. However, his gambling habit gets in the way, and he arrives late to the wedding. Determined to prove himself worthy, Lucky travels to New York City with his friend Pop to earn $25,000 by any means necessary. In New York, Lucky crosses paths with Penny Carroll, a beautiful dance instructor. Misunderstandings initially arise, but Lucky impresses Penny with his charm and exceptional dancing skills.

As Lucky and Penny spend more time together, they develop a close bond through their love for dance and music. Lucky's attempts to win the money are complicated by his growing feelings for Penny. Meanwhile, several comedic situations involving mistaken identities and light-hearted antics unfold, blending romance and humor. Lucky's resolve to return to Margaret is tested as he grapples with his burgeoning affection for Penny and the moral dilemmas of his gambling past.