Syndicate man Dutch Krebbs controls a large gambling operation and an undercover IMF agent with a camera-watch disappeared, presumably with recorded evidence against Krebbs. The IMF must find the agent's body and the watch. Jim poses as a pool player (being helped by Barney) to attract Krebbs' attention - Krebbs plans to use Jim to rip off a rival racketeer's best shooter, but Jim's girlfriend Mimi (formerly Press' girlfriend, now working with the IMF for revenge) reveals he's cheating to Krebbs, who believes Jim can't lose. Meanwhile the IMF rob Press, Krebbs' lieutenant, twice and Press has to make up the loss - Barney promises he can get the money by betting against Jim but Jim wins - Krebbs is accused of cheating and believes Press sold him out and orders a hit. Willy, working in the mob, tells Press about the watch and Press goes after it to get the evidence to bring down Krebbs and the team recovers the watch and takes them into custody, and Mimi signs on with the IMF.

Jim Phelps se fait passer pour un joueur de billard afin de neutraliser un réseau de jeux illégaux.

À la Nouvelle-Orléans le chef de l’équipe Jim Phelps se fait passer pour un champion de billard, afin de récupérer des microfilms cachés dans la montre d’un agent décédé.

El hombre del Sindicato Dutch Krebbs controla una gran operación de apuestas, y un agente encubierto del IMF con un reloj-cámara ha desaparecido, presumiblemente con pruebas grabadas contra Krebbs. El IMF debe encontrar el cuerpo del agente y el reloj.