When compulsive gambler Sir Giles Staverley has lost his estate and all his money playing dice, he realises that he only has one thing left of value: his daughter Serena. In a final game, he stakes his daughter's hand in marriage, convinced that this time he will not lose. Unfortunately, however, he does lose; to the evil Lord Wrotham. Unable to return home and tell his daughter that he has lost her in a game of dice, Sir Giles kills himself there and then. Lord Vulcan, who has witnessed the events, takes pity on Serena Staverley, although they have never met. He challenges Lord Wrotham to a game of dice in which the winner takes both Staverley Court and Miss Serena.
