A.C.Baker, advertising executive for an insurance company, approaches test pilot Terry Moore with a proposition that in return for using his picture and endorsement he will get a paid-for-a-year $1000 policy. High-risk Terry agrees. George MacAlister fires his secretary, Miss Tracy, just as she is typing up the policy and she, for spite, changes the amount from a thousand dollars to one million dollars. A.C. delivers the policy, without noticing the difference, to Terry at a party at the Frolics Club, a cheap joint wedged between a burlesque house and a flop house hotel. Three characters, an elderly hat-check "girl" known as Mother Hodges; Avery Jamieson, a broken-down actor; and bartender Harry Gargan are named beneficiaries. When the company discovers the error, A.C. is sent to get back the policy and, pending that, don't let Terry make any test flights.

Nora Clegg, an actress, marries Carl Brent, an unemployed young engineer, whose estimation of his worth and ability keeps him from getting a job. He finally acquires a position that will require him to go to Russia for a period of time, while Nora goes back to the stage during his absence. But he loses out on the job at the last minute, and rather than tell Nora he has failed again, he steals a roll of money from his prospective employer to buy some things for Nora and go out and have a good time before, she things, his departure. His departure is to jail rather than Russia and he hides the truth from Nora by having an acquaintance mail his letters from Russia. He then finds out that Nora is pregnant.

Northern lawyer John Reynolds travels to New Orleans to try and clean up the local crime syndicate based around a lottery. Although he meets Julie Mirbeau and they are attracted to each other, the fact that her father heads the lottery means they end up on opposite sides. When her father is killed, Julie becomes more and more involved in the shady activities and in blocking Reynolds' attempts at prosecution.