The Emperor's armies have developed a new weapon: a thrown blade that can remove someone's head from long distance. As the paranoid Emperor begins decapitating anyone he fears might be a threat, his guard Mau Tang becomes disillusioned with the excesses of his master. He leaves his post and takes up the quiet life of farming and raising a family. Eventually, though, his past catches up with him, and he must find a way to fight the flying guillotine if he is to save his head.

Chan is Peng Tianshi, who becomes the "Card Tyrant" in response to the gambling world dominance of the Sha family. But Peng also has a Sha family member blinded in retaliation for an earlier loss, leaving the Sha family with a debt of vengeance that needs to be repaid! Sha Tong (Zong Hua) sets in motion an elaborate plan to make turn the rich and affluent Peng into a penniless former king of the gambling world! But can the "Card Tyrant" be bested?