It's Melbourne Cup time in Mt. Thomas and the Heelers are watching the race in the pub along with a number of other notables, such as Richo, Celia Donald and Compo Hayes. When Compo introduces them to his angry mate, Stacker Nicholl, as his best friends, the Heelers begin to get suspicious. Their suspicions are increased when they learn the TAB takings for the Cup are well down on last year's, and Tom deduces that an illegal Starting Price bookie must be in the town. Maggie and PJ are convinced that Compo is involved in some way after Chris discover that his room at the Imperial has been trashed and he has gone missing. A short search of the hotel soon finds him asleep in the cellar, but Compo's explanation satisfies no-one. When Stacker is brought in and charged, Nick is able to establish that he is a customer of the new SP bookie—even though Stacker denies all knowledge. So who could the SP be? Celia Donald is very anxious about her missing Filofax, and she is well-known to like a fl