In Gold Rush-era California, Jim Smiley, a minor who loves to gamble and will bet on anything, obtains a frog. Sniley spends three months training this talented amphibian athlete to become a champion jumper. Smiley finds his mark in the form of a stranger who comes to town and shows an interest in the frog, and would love to bet but if he could find his own frog. "No problem, you hold my frog and I'll go find a frog for you." When hustler meets hustler, the results can be interesting. You might say Smiley didn't know his frog was loaded.