Gambler and bookmaker "Odds" Owen decides that the insurance racket is a business that offers better odds and less risk, and this appeals to him and he sets up shop. He underwrites anything offered to him, figuring he has a "staff" that can ensure no insurance losses. Colonel Jefferson Davis Youngblood buys a $50,000 policy against his daughter, Marilyn, getting married, as she is his sole support and Colonel Youngblood has an aversion to work of any kind. In order to ensure he will not have to pay off on the insurance policy, "Odds" employs some gents who go out of their way to discourage possible suitors for Miss Youngblood's fair hand. Then "Odds" meets her, falls in love, and now has a big conflict-of-interest problem; Possibly, he can lay the policy off on Lloyds of London?