Lord Elpus (Pimple) is penniless and puts all of his money on The Whip, a race horse. The villain, Lord For-givus follows him to a secret trial of The Whip (represented by a pantomime horse). Later, the villain goes to The Whip's stable and tries to poison him by sawing his leg off, and then his tail, but Elpus intervenes. At Madame Tussaud's, Lord Elpus and the heroine see wax figures of Von Tirpitz, the Kaiser (a pig), Von O'Clock and Charles Peace. The villain locks Elpus inside, but he escapes with the help of a genie from Aladdin's lamp. Elpus cycles after a train containing The Whip. As he is releasing the horse, the train behind crashes into the carriage too soon, and the scene has to be repeated twice before Elpus rescues The Whip, only for the train to crash into them both. At Newmarket, Lord Elpus himself rides The Whip in the race (the other competitors also being pantomime horses) and seems certain of victory when the horse throws him just before the winning post and refuses to move any further.