A compulsive (and unlucky) gambler is in debt to a local mobster for $32,000. Ironside wants to put the mobster away, but only can if the gambler is prepared to turn state's evidence. The Chief has to persuade him to turn against the man who is offering him a way out of debt. (NB - The second episode to feature original song From The Day You're Born.)

An apparently impossible robbery occurs in the safety deposit vault at a bank, and Ironside begins to unravel the details of the crime. There is only one apparent suspect, and the Chief is certain that he is not guilty; but as he investigates further, his own life may well be in danger.