On the first day of Royal Ascot, the crowd rejoices in a string of winning favourites.

Ned Talbot has worked all his life as a bookmaker - taking over the family business from his grandfather - so he knows not to expect any sympathy from the punters as they count their winnings, and he counts his losses. He’s seen the ups and downs before - but, as the big gambling conglomerates muscle in on small concerns like his, Ned wonders if it’s worth it any more.

Then, when a grey-haired man steps forward from the crowd claiming to be his father, Ned’s life is thrown into far deeper turmoil.