Jim Bennett is a Los Angeles literature professor with a dangerous gambling addiction. Despite his intelligence and affluent background, he frequently finds himself in trouble due to his compulsive betting. Deep in debt to both a gangster named Neville and a loan shark named Frank, Jim's situation becomes increasingly dire. He borrows money from his disapproving mother, Roberta, to alleviate his debts, but quickly gambles it away instead. As his debts spiral out of control and deadlines loom, Jim's life begins to unravel. Despite his troubles, he continues teaching, forming a unique bond with his student, Amy, who becomes concerned about his well-being.

Determined to extricate himself from the mounting pressure and potential violence from both Neville and Frank, Jim hatches a risky plan. His goal is to amass enough money to pay off all his debts in one final gamble. Throughout his journey, he contends with the consequences of his actions, putting not only himself but also those close to him in danger. The narrative delves into his struggle for redemption and the conflicts between his penchant for self-destruction and a desperate desire for freedom. Jim's path is fraught with tension as he navigates between despair and the slim hope of a clean slate.