Caroline Dawkins is a professor of English who has never confessed her age-play and spanking fantasies to her husband, George Lane, a corporate attorney. After George comes home one night and finds Caroline pleasuring herself, over the course of an extraordinary month Caroline and George utterly transform their erotic life together in the pattern of those taboo fantasies.
In London, the young Paul Grahame lives with his upper class but financially broken family. His wasteful mother Hester Grahame is a compulsive buyer, spending all the family money on new expensive dresses, jewels and objects for their home. His father Richard Grahame is a gambler, losing money in the horse races. His uncle Oscar Cresswell is permanently covering the Grahame family debts. When the servant Bassett is hired, Paul finds that he can predict the winner of the horse races by rocking his wooden horse. Paul asks Bassett to become his partner. The two of them bet their money on the races. Paul wants to prove that he is lucky in order to silence the house, which perpetually whispers to him that it needs more money.