Makoto 'Smile' Tsukimoto and his friend Yutaka 'Peco' Hoshino have been playing table tennis together since they were kids, but as they enter high school, they find that the game, and how they see it, has changed. Peco, brimming with confidence and energy, wants to be the best in the world, but the reserved Smile has little fighting spirit and doesn't want to sacrifice others' happiness just to win, despite his innate talent. As the two grow, and experience the ups and downs of the sport – and life – they try to figure out exactly who they really are and what drives them to play.

Kaiji Itou is a good-for-nothing loiterer who spends his days drinking beer and stealing hubcaps—that is, until he ends up being tricked by his former co-worker. Unable to suddenly repay his friend's huge debt all by himself, Kaiji is offered a shady deal to participate in an illegal underground gamble on a cruise ship. This turns out to be nothing more than the beginning of his new life of hell—thrown headlong into a life-threatening roller coaster of mind games, cheating, and deceit.