It's 1988 and things aren't going well for Harrisburg, PA TV weatherman Russ Richards (JOHN TRAVOLTA). Although he's a local celebrity, has a permanently reserved table at one of the diners and dreams of becoming a TV game show host, he's facing a foreclosure on his home. It seems that he's overextended himself by opening a snowmobile dealership only to discover -- along with Larry (MICHAEL WESTON), his faithful employee - that the uncommonly mild winter has resulted in zero sales.
After station manager Dick Simmons (ED O'NEILL) refuses to give Russ a raise or loan him any money, the desperate weatherman turns to Gig (TIM ROTH), a local strip club owner who knows a thing or too about raising money in less than scrupulous ways. When their concocted insurance scam is busted, however, not only does that not help Russ' situation, but it also puts him on bad terms with Dale "The Thug" Wagstaff (MICHAEL RAPAPORT), the hit man Gig repeatedly turns to for such criminal activity.
As such, Gig then gives Russ his latest advice on how to make money. Since the state lotto drawing is held in the very TV station where Russ works, and he's casually sleeping with Crystal Latroy (LISA KUDROW), the on air lotto girl who draws the lucky numbers, Gig suggests they rig the lotto and take home the winnings.
Soon, Crystal is on the scam and has employed her asthmatic cousin, Walter (MICHAEL MOORE), to play the fixed numbers, cash in the winning $6.4 million ticket, and split the money. While they get away with the drawing, things quickly spiral out of control as loose lips and greed soon have more people involved, such as local bookie Jerry Green (RICHARD SCHIFF), as well as less than enthusiastic police Lt. Pat Lakewood (BILL PULLMAN) and his partner, Chambers (DARYL MITCHELL).
With their plan progressively becoming more complicated and the various involved parties jockeying to get a cut of the action, Russ and Crystal try to figure out how to regain control of the situation and the money, all without being exposed or going to jail.