Set in 1930s Guangdong, when the gambling industry was in full bloom. One of the greatest gamblers in all of Southern China is Law Sei Hoi, who is dubbed as "Divine Eyes of the South" due to his keen eyesight, which he has used to win a great number of games. In addition to his recognition as a highly-skilled gambler, Law Sei Hoi is the owner of a number of casinos in Guangzhou. Tam Sing, an orphan, wanting to be a gambler himself, pursues Law Sei Hoi, asking him to accept him as a disciple. A blossoming romance begins to emerge between his teacher, Law Sei Hoi and his older sister, Tam Siu Tong, who is a well-known Cantonese opera singer. Hung Biu, the rival of Lo Sei Hoi and a gambling tycoon from Guangxi, however, plans to take over the Guangzhou gambling industry.
故事发生于1930年的广州,当时赌业蓬勃,土豪洪彪(黄新饰)、洪豹(郭峰饰)父子企图吞并广州全部赌场,幸得有“南神眼”之称的罗四海(谢贤饰)镇压捣乱,但洪彪父子因此怀恨在心。谭小棠(汪明荃饰)是当时著名花旦,而弟谭昇(任达华饰)因在赌场出千而被四海所擒,小棠为救弟与四海谈判,期后发展出一段感人的爱情故事。
三十年代廣州,賭業蓬勃,當地土豪洪彪、洪豹父子野心併吞全市賭場,幸得「南神眼」羅四海鎮壓搗亂,洪氏父子懷恨在心。譚小棠是當地著名花旦,弟譚昇出千被羅四海所擒,譚小棠為救弟與羅四海談判,二人互相欣賞,最後更發展了一段感人的愛情故事。另一方面,洪彪聘北方千王卓一夫與羅四海鬥法,兩人打成平手,洪彪唯有另立陰謀,改以收買南北千王於旗下。在一次鴉片買賣中,南北千王被洪彪利用,幸得小棠相救。惜兩人最終逃不過洪彪及卓莉的種種陰謀,羅四海被害致雙目失明,卓一夫則被挑斷手筋。為報血海深仇,兩人決集千術之精華授予譚昇。之後昇以過人千術,擊敗洪家與卓莉,成為千王之王,但過程中卻害死了自己親兒。