In Las Vegas, 2003, we meet Huck Cheever (Eric Bana), a gifted young poker player grappling with a strained relationship with his estranged father, L.C. Cheever (Robert Duvall), a celebrated two-time World Series of Poker Champion. Huck frequents the vibrant poker rooms of Las Vegas, yearning to secure a spot in the prestigious $10,000 main event No Limit Texas Hold'Em tournament at the World Series of Poker.
Huck possesses an exceptional knack for reading people — understanding negotiations and human behavior — which allows him to excel at the tables. In a bid to fund his poker ambitions, he often visits the pawn shop, sometimes even pawning his mother's engagement ring.
His skills are showcased one night at the Bellagio poker room, where he crosses paths with aspiring singer Billie Offer (Drew Barrymore), who has just arrived in the city. Their connection sparks interest; however, Billie's older sister, Suzanne, expresses concerns, cautioning her that Huck embodies a "hustle 10, commitment zero" mentality. Complicating matters, the dynamic between father and son shifts dramatically when L.C. returns from the South of France, leading Huck to confront his father over a pivotal poker matchup.
In a tense heads-up scenario, Huck impulsively goes all-in during play, staking his mother's engagement ring against L.C.'s significant war memento — his father's watch. Ultimately, L.C. triumphs, winning yet again. Observing Huck’s playing style, loan shark Roy Durucher (Charles Martin Smith) notes Huck's potential but criticizes his lack of patience, offering to finance Huck's main-event entry with a split of the winnings. Huck, however, declines the offer.
Desperate for funds, Huck approaches his friend Jack (Robert Downey Jr.) for a loan, but to no avail. Instead, he runs into Billie again, who is ecstatic after landing a singing gig. To celebrate this achievement, Huck invites her to play poker with the traveler's checks she brought, eager to demonstrate his prowess at the game. She soon recognizes Huck's extraordinary ability to discern player tendencies through betting patterns.
When L.C. presents Huck with the redeemed wedding ring after retrieving it from the pawn shop, Huck struggles to maintain his footing, losing everything shortly after. This leads to an enlightening dinner conversation with Billie, where Huck reflects on his complicated relationship with his father and the roots of his poker career. Underneath their budding romance, Huck's unresolved issues begin to surface, culminating when he steals from Billie's purse for a quick round of poker, straining their relationship.
After suffering a setback during a "super satellite" game, Huck finds himself cut off from the main event. Yet, with Roy's backing, Huck is given another chance and an extra $1,200 to repay Billie. They share a moment of connection, leading him to believe there’s still hope for their relationship. However, fate takes a turn when L.C. quickly claims Huck’s stake money during another brief game, leaving Huck with tough choices.
Caught in yet another bind, Huck must confront his challenges head-on. Billie holds the stopwatch for Huck’s golfing marathon, which he must complete in under three hours to win cash that can assist his poker ambitions. Despite putting in a valiant effort, he falls short by two seconds, facing physical consequences as Roy's thugs send a stern warning about his debt.
In a twist of fate, Huck learns that Billie has returned to Bakersfield, pushing him to make some desperate decisions. He sells the wedding ring to his father, recouping enough to enter the World Series by raising $10,000 in one night of poker. Driven by his need to express his feelings, Huck travels to Bakersfield, professing to Billie that they have a chance at something extraordinary.
With renewed determination, he enters the World Series, where both Huck and L.C. find themselves on the final table’s brink. Billie watches as they face off, witnessing Huck strategically fold a winning hand, ultimately placing third. Shortly thereafter, L.C. is eliminated as well, succumbing to a talented opponent, Jason Keyes (Evan Jones), who epitomizes the spirit of a new generation of poker players.
In the aftermath, L.C. extends an olive branch, challenging Huck to a friendly rematch over casual stakes. It’s a moment of healing for both, restoring their fractured relationship. As the final scene unfolds, Huck and Billie find their way back to each other, suggesting the rekindling of their love amidst a world of highs and lows synonymous with poker itself.
