The story begins with the divine gambler Hasoqata taking the form of a handsome man who descends from the heavens to seduce women and men with his physical beauty and gifts of precious turquoise.

After a time, Hasoqata challenges the men to all sorts of games and contests in which he is always successful. Aided by dark spirits in the form of an owl and coyote, Hasoqata first wins the men's property, then their women and children, and finally some of the men themselves. 

Hasoqata tells them he will give them part of their property back in payment if they would build him a great house. Oral traditions claim that the ruins of Pueblo Bonito in Chaco Canyon, New Mexico was once the abode of the Great Gambler.

Anxious to get back what they had lost, the men labor for many years building a series of roads and palaces for Hasoqata. Other people who have heard of the Hasoqata's fabulous wealth and power arrive in Chaco Canyon seeking riches. One by one, they and their families fall victim to the Gambler's way with numbers. Then some of the people start to disappear.

A cry went up from the enslaved peoples to the Holy Ones of the heavens for relief. The Holy Ones heard their cries and sent a deliverer in the form of a young boy named He-Who-Is-Good-With-Numbers. The boy challenges Hasoqata to a series of games and contests.

He-Who-Is-Good-With-Numbers wins back all of Hasoqata's slaves and their goods. The young victor then frees the people and all of their property is returned to them. 

Hasoqata became enraged, threatening the boy and his former slaves with curses, but the wind blows back Hasoqata's bitter words. The boy then produces a Bow of Darkness which he bends upwards. He places the string on the ground, and has Hasoqata's former slaves stand on the string. Then the boy shoots Hasoqata up into the sky as if he had been an arrow.

Up and up Hasoqata went, growing smaller and smaller to the sight till he faded to a mere speck, and finally disappeared altogether. As Hasoqata flew upwards into the void, he was heard to mutter in angry tones that someday he would find a way to return and have his revenge on the people.

Many Hopi and Navajo who honor their traditional teachings believe that The Gambler is back.