Tread Perilously returns to one of its favorite terrible shows, Manimal, with the episode called "High Stakes."

When Manimal and Black Partner head out to Aqueduct, their day at the races is disturbed by a faulty parachute and a horse owner who is convinced the winning thoroughbred of a high stakes race is the same horse kidnapped from her ranch a couple of years prior. Manimal gets on the case and enters the high stakes world of horse racing and studding. But he does not get studded himself when he turns into a horse to save the rancher and Black Partner from high stakes peril.

Erik and Justin try to define a real "dark past" versus the one Manimal claims. They also complain, once again, that setting the series in New York is silly. Erik confuses "the sport of kings." He also has a hard time remembering a horse called "Papa's Lad." Justin champions the film Drop Zone. He also plans to name a horse "Sex Machine." The pair note that it is really easy for rich people to get into human trafficking. Justin calls out the way the writers positioned Black Partner in this episode and both try to determine Andrew McCarthy's best film.