In the 1930s, a young con artist, Johnny Hooker, teams up with veteran grifter, Henry Gondorff, after a mutual friend is murdered by a ruthless crime boss, Doyle Lonnegan. Seeking revenge, they concoct an elaborate scheme to swindle Lonnegan out of a fortune. Hooker, fueled by anger for his friend's death and respect for Gondorff's expertise, puts his trust in the older con man's plan. Together, they assemble a group of skilled con artists to orchestrate a complex bait-and-switch operation known as "the big con."

The con involves faking a gambling operation to lure Lonnegan into a high-stakes poker game. The plan is risky and intricate, requiring seamless teamwork and precise timing. As Hooker and Gondorff navigate through the complexities of their deception, they must also outwit Lonnegan's suspicions and avoid drawing undue attention from the law, which is on their trail. The stakes are high, and any slip-up could not only cost them their lives but also endanger the entire crew involved in the scheme.