Sorrowful Jones (Matthau) is a gloomy, cantankerous bookie circa 1934, who is confronted by Carter, a gambler who cannot pay a $10 debt. He ultimately gives his 6-year-old daughter (Stimson) to Sorrowful's gangster-run gambling operation as a "marker" (collateral) for a bet. When he loses his bet and commits suicide, the gangsters are left with the "Kid" on their hands. Sorrowful's nervous assistant, Regret (Newhart), is concerned about the legalities of this, particularly the kidnapping statutes.