In 1933, an older man named Chaney watches a bare-knuckled
street fight, on which bets are made. The fighter, backed by the cocky, fast-talking "Speed" loses badly. Chaney talks a very skeptical Speed into letting him fight the winner. Chaney bets all of the six dollars he has on himself and quickly dispatches his younger opponent. Chaney and a suitably impressed Speed travel to
New Orleans to match Chaney against local fighters at long odds, recruiting genteel drug addict Poe as a
cutman. Between fights, Chaney finds a down-on-her-luck woman named Lucy Simpson to sleep with. For the next fight against local brawling champ Jim Henry, Speed gets a loan from a gang of local mobsters headed by Doty to pay sponsor/fish tycoon Chick Gandil. Chick then unexpectedly raises the stakes to $3000 instead of the usual $1000. To cover the shortfall, Speed sets up a fight at odds with a Southerner named Pettibone. Chaney easily disposes of his next opponent, a
Cajun. When Pettibone, the loser's sponsor, refuses to pay off his bet, Chaney advises Speed to leave, as they are greatly outnumbered by the locals, but suggests they return later. That night, Chaney sneaks into Pettibone's
honky-tonk joint, brandishes a gun, flattens the hood's goons, shoots up the place, and gets the winnings from Pettibone after clubbing him with the pistol. Chaney wins this fight handily, but gambling addict Speed blows all his winnings in a backroom crape, leaving him unable to repay the loan sharks. Afterwards, Speed and Chaney disagree about selling a piece of Chaney to Gandil. Gandil instead pays off Speed's debt and takes him hostage. Chaney must wager his entire winnings to take on a prize fighter imported from Chicago named Street, or Speed will be killed. Chaney does not want to rescue Speed from his own folly, despite Poe's pleas. His relationship with Lucy ends as she finds a new man who offers more stability and has a “real job.” Chaney shows for the bout with Street. The Chicago fighter proves a worthy foe, but Chaney gradually gets the upper hand. When Street is knocked down and is on his hands and knees, Gandil slams two metal cylinders on the ground for him to wrap his fists around, but Street is too proud to cheat. Chaney then finishes him off. Afterward, Chaney gives Speed and Poe a generous cut of the winnings and leaves town, instructing Poe to take care of his stray cat. == Cast==