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The Dalmatian pups and Spot watch an animal game show called Squeal of Fortune. The contestants on it (a hamster and a sheep) fail the challenge and the show closes with no winners. However, the host announces that the prize for the next show will be a genuine, autographed Thunderbolt bone. Lucky sees this and says he'd give anything for a shot at the bone. Swamp Rat then arrives and sells Lucky a ticket for two animals for Squeal of Fortune in exchange for Lucky’s dog bowl (revealed later).
Meanwhile, Cruella is watching the game show too, and, whilst commenting how vile and disgusting it is, claims it's the perfect place to promote her new line of fashion pet wear. She enters both Scorch and Vendella to be teammates on Squeal of Fortune.
Back at the Dearly Farm, Lucky is having trouble deciding on who his teammate should be. So, he thinks the best way to decide is to test the three to see if they're good enough. He first tests Spot on how she handles pressure by giving her a word problem to answer in thirty seconds, but Spot freaks out. He then tests Rolly on concentration by asking him to run to a line and stay until asked to come back. Rolly, however, fails this test when he sees Lucky brought a cake and eats it. Lucky's test for Cadpig results in her being picked on by an insult comic porcupine called "Don Prickles."
Soon, the trio of Rolly, Cadpig and Spot are exhausted by all the tests Lucky is setting. Lucky then arrives telling them they've failed all the tests; however, the deciding test is to say in 25 words or less "why Lucky is the greatest pup of them all."
Angry at the power trip Lucky is taking, the three storm off saying he'll have to find someone else to go on the game show. Lucky at first thinks anyone would jump at the chance to be his teammate; however, when he asks Tripod, the latter informs Lucky about how the word is going around that Lucky has been a big pain lately.
Having no one to go with, Lucky returns to Swamp Rat to return the tickets, but Swamp Rat says he doesn't give refunds. Steven the alligator then shows up, saying he'll be willing to be Lucky's teammate and promises not to eat him. Lucky accepts and they head off to the studio, as Rolly watches close by.
When they get to the studio, Lucky and Steven learn that there is no admittance for animals without a human. Steven gets around this by snapping the collars off two poodles (and supposedly eating the dogs), and the two enter while pretending to be the pets of a lady (who soon wonders where her poodles had gone).
Back at the barn, Cadpig and Spot wonder if Lucky found a teammate and if they were too hard on him. Spot then notices Rolly is missing. However, Cadpig shushes her as the show starts, where they are shocked to see that Lucky's partner is Steven the alligator.
The course in which Lucky and Steven have to race Scorch and Vendella against consists of a simulated city traffic jam, a water slide rapid, a diving board, and a bell which they must ring while making it across a fruit flavored gelatin dessert, all while getting there in less than one minute.
At first, the course goes well for Lucky, since Steven is able to either knock or scare the traffic out the way. However, when Vendella makes an insult to Steven by saying he will become a future handbag, the alligator supposedly eats her tail, and he is thus disqualified.
Lucky needs to find another teammate or else forfeit. Rolly then arrives to be Lucky’s partner, explaining that even if he doesn’t deserve it, Lucky is his best friend (along with Rolly wanting the Thunderbolt bone too).
The two make their way down the water rapids and to the gelatin; however, it's too slippery for Lucky to reach the bell in time. Rolly, however, is able to eat his way through the gelatin, enabling Lucky to ring the bell before time ran out, winning the game and bone.
Later, as they admire the bone, Lucky apologizes for his behavior and the three accept. Cadpig comments how "everyone loves a game show winner," while Steven claims to "love a game show host" whilst spitting out a microphone, alleging that he ate the Squeal of Fortune host.
- Squeal of Fortune is an obvious homage to the popular game show, Wheel of Fortune.
- Cruella seems to own Vendella in this episode, although Vendella isn't properly introduced until "Best of Show".
- This also marks Swamp Rat and Steven's first appearance in 101 Dalmatians: The Series, despite not being properly introduced until "It's a Swamp Thing".
- This episode is one of six episodes where Steven is shown to talk instead of his usual grunting noises, the other five being "Invasion of the Doggy Snatchers", "The Life You Save", "Walk on the Wild Side", "A Christmas Cruella", and "Animal House Party".
- Cadpig is harassed by a porcupine called "Don Prickles." This character's name is probably based on comedic actor Don Rickles (famous for his role as Mr. Potato Head in Toy Story).
- The studio Squeal of Fortune is being filmed in is Soundstage 101, clearly a reference to the title of the series.
- Even though it is said that Steven ate Vendella's tail, when Cruella grabs her, her tail is still there while the fur isn't.
- Both this episode and "An Officer and a Gentledog" mark the first appearance of Tripod.