Mike Valentine, a Florida native and a gambling addict, has found himself exiled in Philadelphia. Despite his relocation, the mere thought of returning to his hometown fills him with dread. Gambling had robbed him of everything he cherished: his job, his life, and all the hard-earned money. A year later, still drowning in debt, Mike is forced to work for Moss Yenkov, a criminal, collecting dues in order to repay his obligations.
Mike, a former cop, knows how to manipulate people and is not averse to using violence. However, Moss's charming girlfriend, Delly, is displeased with her lover. She feels neglected and disillusioned by Moss's disregard for her needs, refusing to buy her new things. On her birthday, she is enraged when Moss gives her another stolen necklace. As a result, Mike is entrusted with the task of escorting her home safely. Unexpectedly, the two spend a wild night together, culminating in a passionate encounter. Delly proposes a life together in Florida, but Mike, bitter and determined, vows never to return.
The following morning, Delly takes Moss's new BMW to a beach in Florida. Mike is now tasked with tracking her down and bringing her back, with a hefty reward—$50,000 off his debt if he succeeds, but double that if he fails. Mike, armed with a stolen gun from the airport, steps back into the city that once shattered his life. His first day back is nothing short of controversial.
As he reminisces about his childhood memories with his family on the beach, Mike hears a woman screaming for help in the ocean. He tries to alert the lifeguards and others but ultimately dives in himself. He rescues the woman, but she turns on him, accusing him of "violating her." Spectators around them start recording videos, and Mike dives back in to retrieve the woman's top, only to be bizarrely attacked by a shark.
Mike wakes up in the hospital, surrounded by his sister, Patsy. His ordeal has made national news, but the media portrays him in a very negative light. Moss has caught wind of the news and chillingly informs Mike that he knows where his family lives. Mike crafts a fake business card, pretending to be an Independent Insurance Consultant, and heads to the police station. Officer Andy Boon recognizes Mike's surname as belonging to Captain Valentine, who had recruited him.
Here, Mike meets Patsy's family: her husband, Deacon, and their daughter, Tyler. Patsy warns Mike to be cautious as she sees through his insurance ruse. It transpires that Mike's father, Sonny, was not an honest cop. He once smuggled goods but now owns a small bar near the lakeside. Mike visits him, seeking information about Delly, but Sonny claims he can't help. It turns out that the gun Mike stole belonged to Deputy Sheriff Ketcher from Durham County, who is visiting with his family.
Andy calls Mike, informing him that he has found Delly, as a favor to Sonny. He also urges Mike to reveal the truth behind his insurance ruse. Mike discovers that Delly has sold her BMW and purchased a new Lexus. Inside the BMW, he finds a citation with an address.
Iris, Mike's estranged wife and a seasoned detective from the Philly police, urgently calls him about a murder investigation. The victim is Gil Franco, the man we witnessed Mike threatening in the opening sequence due to his debt with Moss. Iris probes Mike for any additional information, but he remains evasive.
Mike promptly calls Moss to inquire about Gil, revealing a past agreement where Moss's gambling debts wouldn't harm any of his targets. Moss's nervous tone over the phone prompts Mike to seize the opportunity, threatening to eradicate his debt entirely if Moss ever targeted Mike's family.
Mike tracks down Delly and shadows her to a secluded cabin in the woods. Inside, he hears gunshots, followed by the sight of Delly lifeless on a bed. Grabbing her purse, Mike escapes before the police arrive. Unbeknownst to him, an officer has been tailing him, at Sonny's behest.
Within the purse, Mike discovers the same enigmatic gold coin he stumbled upon as a younger man, hidden in a dead fish. Intrigued, he calls Moss for Delly's passcode. But when Andy investigates the cabin, he finds no trace of Delly's body or any sign of foul play. The cabin owner reveals she can identify the man who was there the night before, leading Sonny to confess that he had Mike under surveillance. However, he denies any involvement in Delly's murder.
The news broadcasts images of a man who entered the cabin with Delly. An ambulance driver, now hospitalized in the ICU, collided with a car while driving the ambulance, and the man stole it. Mike's mind is consumed with Delly, the flashes of their memories revealing a profound love.
The next morning, Iris calls Mike, suspecting his involvement in Moss' Florida business. Andy presents Mike's sketch to Sonny, inquiring about the shooting at Salt-Air Bungalows. Though Sonny knows the police lack substantial evidence against Mike, Andy warns him that his blind eye is nearing its limit.
Disguised as a Highway Safety officer, Mike meets news anchor Kaitlin Fox, seeking the footage of the ambulance theft. She agrees to trade for the exclusive story. Meanwhile, Andy discovers a drop of blood at the cabin, a potential clue.
Sonny cautions Mike about the police's scrutiny over the bungalow shooting. He advises Mike to leave, claiming he lacks moral compass. Mike learns that the crime scene was sanitized, but the absence of Delly's body in Kaitlin's footage suggests a professional cleanup. Mike informs Moss of the developments, yet his suspicions of Moss grow stronger. The episode culminates with a shocking revelation: upon returning home, Mike finds Delly lying lifeless on his bed.
