[1] Randi had a varied career, performing stage magic, mentalism, escape acts,[2] spending almost an hour encased in a slab of ice; and "decapitating" Alice Cooper with a trick guillotine every night on tour.

[5]: ix  Randi also made the choice to avoid the "tiresome custom" of revealing secrets behind the illusions described throughout the book, believing that "the personalities, the events, and the growth of this art should provide entertainment enough to the reader".

In chapters 1-5, Randi provides brief overviews of the Egyptian origins of magic; cups and balls; rabbits out of hats; and the apocryphal nature of the Indian rope trick.

In Chapter 21, Randi offers an account of the life and work of the escape artist Harry Houdini, which is written in more detail than the mini-biographies in the rest of the book.

In Chapter 26, Randi discusses a variety of mentalists, some of whom include Washington Irving Bishop, Max Maven, Joseph Dunninger, Uri Geller, and Steve Shaw.

Chapter 30 covers approximately two dozen "modern wizards", some of whom include Robert Harbin, Penn & Teller, Jeff McBride, Lance Burton, and David Copperfield.

Kirkus Reviews wrote that the book was "lively, opinionated, and impeccably well informed", praising it for "shedding new light on even the most famous", and also calling it "[a] must for magic-lovers".

[8] John Meacham wrote in the Times Colonist that the book was "extremely well researched" and was "invaluable to the devoted magician and very good reading for the person who just wants to get the background of the who, when, but not how of magic".

[11] In a negative review, Publishers Weekly described the book as "broad but ultimately unsatisfying", also writing that it "becomes tedious as it degenerates into a collection of brief profiles of relatively obscure performers".