หลายเดือนหลังจากเกิดเหตุการณ์ที่สตาร์ไซด์โฮเต็ล ไคจิก็โคจรมาพบกับเอ็นโดพร้อมหนี้ที่ท่วมหัว และถูกบีบบังคับให้ต้องมาเป็นแรงงานเถื่อนในค่ายนรกใต้ดิน

โอสึกิชักชวนให้ไคจิเล่นพนันกับคนงานคนอื่นๆ โดยใช้สกุลเงินเพริกา และในช่วงดึกของคืนเดียวกัน พวกเขาก็หันมาเล่นเกมลูกเต๋าโดยมีเงินเดิมพันสูงลิ่ว

หลังจากเปิดเกมลูกเต๋าได้อย่างสวยงาม ก็ถึงคราวที่ไคจิจะได้เป็นเจ้ามือ โอสึกิและผู้ร่วมสมคบคิดตัดสินใจวางเดิมพันอย่างใจป้ำเพื่อยกระดับเกมให้ดุเดือดยิ่งขึ้น

ขณะที่บรรดาคนงานได้รับเงินเดือน ไคจิกลับต้องแบกรับหนี้สินที่มากกว่าเดิม และเผชิญความจริงอันโหดร้าย เมื่ออนาคตของเขาอาจต้องจบลงในค่ายนรกแห่งนี้

เพื่อที่จะเก็บออมเงินและชดใช้หนี้ให้หมดสิ้น ไคจิและพวกพ้องก็แสดงให้เห็นเจตนารมณ์อันแรงกล้า ขณะที่ต้องเผชิญกับสภาพแวดล้อมอันเลวร้ายและสภาวะการทำงานที่โหดหิน

หลังจากไม่มีการจำกัดเงินเดิมพันสูงสุด ไคจิก็หันมาท้าพนันกับคู่แข่งสุดเหี้ยมอย่างโอสึกิอีกครั้ง แต่ไม่นานบรรยากาศในวงพนันก็เริ่มกร่อย เมื่อไคจิวางเงินเดิมพันเพียงน้อยนิด

เมื่อไคจิวางเดิมพันก้อนใหญ่ ผู้ชมก็พากันตื่นเต้นและหันมาเอาใจช่วยเขา จนทำให้โอสึกิรู้สึกไม่สบอารมณ์ และตัดสินใจงัดกลโกงออกมาใช้แบบไม่รอช้า

ไคจิพยายามเปิดโปงกลโกงที่ซ่อนอยู่ในลูกเต๋าให้ทุกคนได้รับรู้ แม้ว่าโอสึกิจะพยายามแสดงความบริสุทธิ์ใจ แต่ทั้งวงก็เริ่มต่อต้านและอยากจะเอาคืนเขา

หลังจากทำให้โอสึกิต้องอับอายในเกมสุดท้าย ไคจิก็เปิดเผยความตั้งใจที่จะแบ่งเงินรางวัลให้ทุกคนโดยเท่าเทียมกัน ทว่ายังมีแผนการที่ท้าทายยิ่งกว่ารออยู่

ไคจิได้รู้ข้อมูลเพิ่มเติมเกี่ยวกับตู้ปาจิงโกะที่เขาหวังจะใช้ทำเงิน 600 ล้านเยน เพื่อซื้ออิสรภาพให้กับพวกพ้องในค่ายแรงงานนรก

Sakazaki starts to play the Bog, using an initial ¥10 million, dropping balls onto the final holed plate, but they do not have enough momentum. During the game Kaiji successfully passes Sakazaki his pre-prepared magnetized beer can and he prepares to use it to increase the centrifugal force of a ball to make it drop through the winning hole. However the effect is insignificant, but Sakazaki continues, wagering another ¥10 million. Kaiji overhears the security men talk of a device to prevent anyone winning and Kaiji warns Sakazaki's to stop, but he is in a gambling frenzy and continues to play using the money he 'borrowed' from the company safe.

Sakazaki ignores Kaiji's warning and continues sinking money into the Bog, while the casino manager gives instructions to initiate the 'block' which controls the flippers, stopping the balls descending into the winning zone. Although Sakazaki is close to winning he collapses and the casino manager, Ichijō Seiya, introduces himself and reveals that they are using brass balls today which are not affected by magnetism. They leave with a little more than ¥6 million after losing over ¥43 million in two hours. The next day, Kaiji spends hours back at the casino, staring at the machine, then goes to the staff room to cash in one ball he found, insulting Ichijō but also gathering information about the casino's operations.

Kaiji returns to the Sakazaki apartment, only to find it trashed and empty. Sakazaki has taken the last of his money to the race track. Kaiji's plan for revenge involves Sakazaki, so with a plan to beat the Bog, he tracks Sakazaki down at a Sapporo racetrack. Kaiji approaches Endō who is now broke but agrees to fund him, however it will cost ¥113 million including interest plus 50% of the winnings. Sakazaki violently objects but they end up agreeing to split the winnings three ways after costs.

From his descent into the underground hell to his first encounter with the Bog and Ichijou, relive Kaiji's journey and see just how far he has left to go.

Sakazaki enters the casino to challenge the Bog again, dressed as a Komusō monk. He plays the machine, quickly losing his stake of ¥6 million, then attacks and damages it. Ichijō is suspicious of his behavior and realizes that it is a distraction and rushes to his office to find Kaiji there. Ichijō has Sakazaki beaten up and Kaiji tortured, then they are thrown out into the street. Days later, the Bog is repaired and operational again. It is Kaiji's final day on the surface and he arrives at the casino to challenge the unbeatable Pachinko machine.

On Kaiji's last day above ground, he challenges the Bog and Kurosaki warns Ichijō that Kaiji must have a plan, and Ichijō's reputation is on the line. Kaiji starts playing and more balls than expected drop between the pins and Ichijō is suspicious. It takes him some time to realize that Kaiji somehow entered the staff room and doctored the setting gauges for adjusting the pins so they were set wider apart. Panicking, Ichijō has the 'block' turned on, directing the balls away from the winning path.

Kaiji plays on even though it appears the chances of winning are zero. Meanwhile, Ichijō receives a request to send a live CCTV feed to the Teiai underground forced labor camp and to Hyōdō. Kaiji continues to play, even after losing ¥20 million in what seems a pointless exercise.

Kaiji continues to play, with every ball deflected by the flippers until one ball makes it through to the plates below, the flipper rods bent because the replacement rods installed after Sakazaki smashed the machine were modified by Kaiji. Ichijō starts to panic and then receives a phone call from Hyōdō telling him to let the game continue and not bring the corporation into disrepute, under penalty of death. Ichijō now relies on his three rigged bottom plates to foil Kaiji's chances of winning.

Kaiji has only ¥20 million left to try and beat the Bog, however he is confident as he is aware of how the three bottom plates are rigged. He explained this to Sakazaki when they were at the racetrack. Slowly Ichijō comes to realize that Kaiji managed to not only tilt the machine to increase his odds of winning, but also create a slightly favorable tilt on the casino building. Unbeknownst to him, Kaiji's group had poured 20 tons of water into plastic tanks in a room on one side of the casino building, causing it to subside slightly on that side.

Kaiji's improbable idea of tilting the building to tilt the Bog pays off, and he gets closer to winning with more balls dropping onto the third and final plate. Ichijō contemplates the consequences of losing everything he has and tilts the machine again in the same direction to prevent balls reaching the third plate as Kaiji uses his last ¥10 million.

Kaiji plays on, but he is on the verge of defeat, having lost all his money. He convinces Endō to lend him his last ¥10 million against his better judgement, but at an exorbitant interest rate, and Kaiji returns to the machine for a final assault.

Kaiji commences to play with the last ¥10 million he borrowed from Endō for a final assault, unaware that Ichijō has tilted the machine in the same direction that Kaiji's group tilted the building, thus creating an almost insurmountable tilt on the first two plates. When half of the money is gone, Ichijō gloats to Kaiji that he can never win, but Kaiji says that he knows about the tilt. As the crowd watches, Kaiji tapes three ¥10,000 bills to the glass, hiding the three plates. In frustration, Ichijō rips them off to see a number of balls circulating on the plates because the losing holes have become clogged with balls which are unable to exit the machine. This increases Kaiji's probability of winning, however they still do not drop into the winning hole.

Kaiji realizes too late that the lean they created in the building also tilts slightly to the left, possibly eliminating his chances of a ball dropping into the rear winning hole. Also, with Ichijō now tilting the machine back to the front, the clogged balls may soon drop out. He is now in a race against time before the money runs out. Finally, two balls head for the winning hole, but unfortunately knock each other away.

Kaiji continues to play until the losing holes on even the third plate are blocked; however, Ichijō has the final weapon – air jets around the winning hole to deflect the balls. In the hushed silence, Kaiji hears the sound of hissing air and deduces what Ichijō has done. As Kaiji runs out of balls to play, the Teiai security men in black arrive to take him back underground. Kaiji proposes calling it a draw to Ichijō who refuses, forcing Kaiji to play his remaining balls and pray for a miracle.

As Ichijō is removed by the men in black, Kaiji tells him to fight his way back to the surface for a rematch. Meanwhile, Kaiji's friends cash in the balls he won for a total of over ¥729 million. Kaiji, Sakazaki and Endō settle their debts and split the remainder for almost ¥190 million each, from which Kaiji must pay back his friends in the underground labor camp.