Fred Astaire and Ginger Rogers star as a pair of dancing sweethearts who are betrothed to others when it's Swing Time. John "Lucky" Garnett (Astaire) goes to his hometown to marry Margaret Watson (Betty Furness), but friends from him his vaudeville act--knowing his weakness for gambling--trick Lucky into missing his wedding. Furious, Margaret gives Lucky one more chance ... if he can earn $25,000. Penniless, Lucky goes to New York to find a way to earn the money.He quickly amasses a small fortune by gambling, but he also meets dancer Penny Carrol (Rogers), who is unhappily engaged to Ricardo Romero (George Metaxa). Now, how will Lucky and Penny escape their promises to others and find a way to live happily together?