- A title card pops up that says, "The Shut-Out."
- We return to the fake betting parlor, where Henry and all the gang are trying to set up another bet for Lonnegan to win. They have to make sure that the odds aren't too long or Lonnegan will clean out all their money, so they settle on a horse that's 3 to 1.
- In the nearby diner, Lonnegan gets the bet on the phone and comes over to the betting parlor to bet on the tip he's received.
- But the con artists rig it so that a big line forms just before the race and Lonnegan can't put the bet down in time. This way, the cons show him the tips are good without having to pay him a ton of money.
- Sure enough, all the horses come through just as Lonnegan had bet. Lonnegan gets up and signals that he wants to speak with Johnny-as-Kelly privately in the alley.
- Outside, Lonnegan says that he'll bring half a million the next day and that he wants Johnny-as-Kelly to put it on any race that's 4-to-1 odds or better. And next time, Lonnegan wants to make sure he gets to the betting window on time.