Slip Mahoney and Sach are working as runners for a New York brokerage firm owned by David J. Thurston. His daughter,Carol Thurston, is romantically involved with Gabe Moreno, a crusading television producer. David Thurston is found dead and the coroner's ruling is suicide. Slip isn't buying that, snoops around Thurston's office, and discovers a matchbox and pair of dice carrying the insignia, "The High Hat Club." Slip engages a spiel artist,Wellington J. "Buffer" McGee, to teach him, Sach and their friends, Butch, Chuck , and Whitey how to beat all games of chance. Slip, posing as "Slippery" Mahoney, and Sach as Sacramento Sach obtain jobs at the dice table of "The High Hat Club,", operated by Bruce McDermott and "Countess" Margo, and they bring in their friends to operate the card tables. Moreno, aided by information supplied by Mahoney, launches a campaign against McDermott, and has City Councilman John Martin aid him in his fight.