On New Year's Eve, 1933, as Prohibition ends, newspaper columnist Don Corwin reflects on the life of gambler Steve Maddux: Some years earlier, Steve accuses Felix Bender, another gambler, of using loaded dice. His control of the situation impresses a young gangster named Candy, who offers Steve his services. Later that evening, Steve is at the nightclub owned by his brother-in-law, Joe Marino, when Bender barges in holding a gun and demands that Steve return his money. Steve manages to disarm Bender, but Bender pulls a second gun and Steve shoots him. Steve had planned to go to New York with his girl friend, singer Georgia King, who has been offered a job on Broadway, but travels instead to Miami. In Florida, Steve gambles his bankroll up to $50,000. When Joe and his wife Ruby, Steve's sister, join him in Miami, Joe offers Steve a job running the game room of his new nightclub, but Steve prefers the excitement of gambling for big stakes and declines. After Steve loses everything in a crooked poker game, however, he agrees to work for Joe, even after Joe reveals that he rigged the game to teach Steve a lesson. Meanwhile in New York, Georgia is preparing for the opening of her show. She catches Don's eye when he goes backstage with policeman Bill Fellows. Despite Bill's warning that Georgia's boyfriend is a murderer, Don takes her out to dinner, and soon her name appears often in his column. One night, Steve walks into Georgia's apartment and invites her to come to Sarasota Springs with him and be featured in Joe's club. When Georgia refuses to walk out on a contract, Steve informs her that he has bought her contract. Georgia gives in when Steve falsely states that Joe will not hire him unless she agrees to come too. Don follows them to Sarasota Springs, and there, he and Steve spar with each other in a boxing ring. After Don wins the match, Candy arranges for him to be beaten up and dumped by the side of the road. When Georgia learns that Don is in the hospital, she blames Steve and returns to New York. Steve is furious at Candy for taking matters into his own hands and slaps him. In order to get Georgia back, Steve marries her and opens a nightclub in New York for her. Some time later, a tipster tells Don that he saw Steve and Candy take Bender's body out of Joe's club the night of the murder. Don chooses not to use the item, but Bill has also heard the story and plans a raid of the club. During the raid, Steve holds a gun on the police and Ruby is accidentally killed. Steve escapes with Candy's help and a police search ensues. Joe, who wants revenge for Ruby's death, is also looking for Steve. Candy has grown tired of Steve's imperious treatment and calls both Joe and the police to reveal Steve's hiding place. Joe finds Steve before the police do, and the two men kill each other. The police and Georgia arrive in time for Steve to die in Georgia's arms.