An FBI agent named Pete Rosetti, who is going undercover as an intrepid gambler, must turn the Mafia from filthy rich to dirt poor in a series of gambling games in order to arrest them.

The player is provided with ten thousand dollars in his bank account at the start of each round.

Each preliminary round awards the winner with a bonus of ten thousand dollars and five draw poker points to be used in the final round; the loser receives no money and two points.

Nintendo Power magazine gave High Stakes Gambling a 3.4 out of 5 rating in its March 1992 issue.

[5] The independent video gaming magazine Allgame gave High Stakes Gambling an overall score of 3.5 stars out of 5.