This musical is based on four short stories by Damon Runyon. In one tale, gambler Feet Samuels sells his body to science just as he realizes that Hortense loves him and that he would rather live than die. In another story, Harriet's parrot is killed, and she has problems dealing with her loss. Then, there is a gambler, "Regret", who has bloodhounds on his trail when he becomes a murder suspect. Finally, "The Brain" is bleeding profusely, and his friends search for a way to save his life through a blood transfusion.
After being discharged from the Army, Brian Flanagan moves back to Queens and takes a job in a bar run by Doug Coughlin, who teaches Brian the fine art of bar-tending. Brian quickly becomes a patron favorite with his flashy drink-mixing style, and Brian adopts his mentor's cynical philosophy on life and goes for the money.