After recovering from a twisted ankle, the drifter Nat Banyon hitchhikes on the road, trying to reach Wyoming, where he dreams of owning an ostrich farm. However, an incident in a bar results in him stealing a car from the guy that was beating him up. He heads to Wyoming, but on the way he sees a car accident and saves the driver Herman Finch, who owns the Deepwater Hotel. While spending the night in the hotel, Nat is arrested by the police, but Finch releases him from jail and proposes to Nat to paint his hotel. In return, he gives an old blue Chrysler Newport to Nat, and lodges and feeds him in the hotel. While painting the hotel, Nat becomes obsessed with Finch's wife, Iris, and discovers that Finch is a loan shark and corrupt. Furthermore, he hatches a scheme involving a car dealer (Walnut) and his partner, the Indian Joe Littlefeet in the local casino. After the mysterious death of a local and a policeman that had issues with Finch, Nat decides to leave Deepwater; but Iris seduces him and convinces Nat to leave after a box match promoted by Finch (so he can steal a large amount from the safe). On the day of the fight, Nat discovers the hidden secret in Deepwater.