Episode 1 of "Bait" unfolds with the introduction of Shah Latif, a young British Pakistani of average stature and a slender physique, as he auditions for the role of James Bond. Despite his efforts, he continually stumbles at the same juncture, frustrating even the female director who initially gave him a chance. As she loses patience and drops him from consideration, Shah's self-berating words are overheard by the sound engineer, further adding to his embarrassment.

The assistant warns him of the paparazzi gathered at the front, fueling the Bond rumor mill, but Shah defies the advice and exits through the front, only to be photographed by the waiting photographers. On his way home, a white man on the street mistakes him for Dev Patel, and he plays along until a Gujarati woman heckles him for comparing a short brown man to the actor from "Slumdog Millionaire."
Shah is picked up by his cousin, Zulfi, who teases him further and discusses their differing ambitions: Zulfi's desire to start a Muslim-owned taxi business and Shah's struggling acting career. After not returning home for two months, Zulfi drags him to see his parents, who are religious and traditional but playful. They dote on him but also want him to succeed so they can boast to their friends.
His young cousin, Q, is the first to catch on to the rumor that Shah may be the next Bond, thanks to the pap photos. The situation becomes chaotic as everyone offers their opinions. Suddenly, his parents are fine with the fact that Bond has sex scenes, while Zulfi wonders if he will get heels to appear taller.
Shah is overwhelmed and rushes out of the house. Alone in his apartment, he waits anxiously for his agent's call and sadly gazes at a limited edition watch that had been gifted to him when he won the Rising Star Award in 2015 at a prestigious French film festival.
At that precise moment, his agent, Felicia, a Black woman, brings him some good news. The internet is yearning for diversity in representation, and Shah's popularity has soared to the extent that the studio is considering giving him a second chance. He is eager to enhance his chances and wonders if he should erase his controversial digital footprint. Felicia suggests embracing his edgy persona as a POC candidate but warns him not to overstep his bounds. Instead, he does the opposite by visiting a club where Amit and Taze, his Punjabi rapper friends, are performing. At the entrance, he unexpectedly runs into a girl named Yasmin, and the encounter is awkward.
Inside, the group catches up, and we learn that Shah used to be a rapper with them. He wants to do a special performance to gain more traction and, while Taze agrees, he warns him that he's also receiving hate for the Bond rumor. Shah goes online and is shaken by the racist comments. He freaks out and runs off.
His dad is praying when some men jeer and throw a pig's head through their window. At the same time, Felicia texts Shah that he has secured a second audition.