Sheila Tracy, a carefree college girl, inherits her wealthy father's fortune after he dies in an accident. With thousands of dollars burning a hole in her pocket, she is soon enticed by one of her late father's favorite places, the race track. But it's not just gambling on horses that Sheila is interested in. She begins a romance with Bill Foster, a handsome young stablehand. Bill, who is broke, is unable to propose marriage to the willful heiress. To further complicate matters, Ralph Jordan, the crooked owner of the track, begins to romance Sheila with an eye on her inheritance. Bill must find a way to improve his fortunes before Jordan swindles Sheila out of all her money.
Gambling Sex's director, Fred C. Newmeyer, is best known for his comedic work with Harold Lloyd during the silent era, including Safety Last! (1923) and The Freshman (1925). Adept at several genres, he also directed the John Barrymore historical drama Tempest (1927). Star Grant Withers made his film debut opposite James Cagney in Sinners' Holiday (1930) and afterwards segued into playing "tough guy" roles in countless Westerns. He is perhaps best remembered for his friendship with John Wayne (which led to roles in nine Wayne features, including Fort Apache and Rio Grande) and his short-lived marriage to a then-17-year-old Loretta Young in 1930. Ruth Hall's most notable role was as Zeppo's girlfriend in the Marx Brothers classic Monkey Business (1931).