A group of teenage girls from Atlanta go to summer camp, and, unbeknownst to the adults, two of them make a bet as to which one will lose her virginity first, with all the girls in camp betting money on the contest. The girls involved in the contest are opposites and rivals: cynical, suspicious and streetwise poor girl Angel Bright (played by Kristy McNichol) and naive, prissy and romantic rich girl Ferris Whitney (played by Tatum O’Neal). The rest of the girls divide into two "teams", each rooting for and egging on either Ferris or Angel. The two girls then choose guys they want to lose their virginity with. Angel targets Randy, a boy from the camp across the lake, and Ferris attempts to seduce Gary Callahan, the (much older) camp counselor.