- The day after being shot at, Johnny goes into work and tells Henry that everything's fine when Henry asks him what's up.
- Henry, of course, knows that something must be wrong. He's no fool.
- The two guys go over their plan and everything looks good.
- Meanwhile, Lonnegan meets with one of his assassins. The guy tells Lonnegan that Johnny managed to get away, although we're not clear if Lonnegan knows the connection between Johnny and the guy he was talking to the night before.
- Either way, he's mad at his assassins for failing him. He tells one of his gofers to put his best hitman (named Salino) on the job.
- When we look back in on the conmen's fake betting place, the place is filled with all the conmen and looks like a totally real betting establishment.
- Across the street, Johnny waits at a drug store for Lonnegan to show up. Little does he know that Lonnegan is already sitting in the booth behind him.
- Johnny-as-Kelly sits down with Lonnegan and gives him instructions to take two thousand dollars from him and bet it on a horse across the street.
- Johnny-as-Kelly also says he'll pay Lonnegan back his fifteen thousand once the race is over.
- Lonnegan totally takes the bait and heads into the fake betting place to put down Johnny-as-Kelly's bet.
- When he comes in, Henry-as-Shaw walks over to him with a big smirk on his face and taunts him about being a loser who welches on his bets.
- So the race goes and Lonnegan's horse wins. Henry-as-Shaw comes over with a sour look because he apparently just lost a lot of money back to Lonnegan.
- He takes out his anger by saying that he doesn't want to see Lonnegan's bodyguards come into his betting joint again.
- So just like that, Lonnegan walks away with a big wad of cash. As soon as he's gone, the men all celebrate a job well done. Lonnegan has official taken the bait.