Bait starts out with a cunning pre-credits sequence, wherein a dapper, erudite gentlemen (Sir Cedric Hardwicke), after signing a series of autographs for his admiring fans, introduces himself as the Devil. Addressing the viewer, His Satanic Majesty introduces a cautionary tale of sex and greed--which turns out to be yet another steamy Hugo Haas-directed melodrama, this one titled Bait. Once more, Haas casts himself as a truculent middle-aged man who succumbs to the charms of trashy young blonde Cleo Moore. The plot concerns a lost gold mine, which Haas has been seeking out for nearly 20 years. All he needs is a bright young man to share expenses and responsibilities for a prospecting expedition. Enter John Agar, whose avarice is exceeded only by his lust for Haas' buxom wife Moore. It turns out that Haas has intended all along to use Moore as bait to lure in Agar, as the first step in an elaborate murder and robbery scheme.