Jerry has two tickets to the Super Bowl but cannot attend due to "The Drake's" wedding. Jerry gives the tickets to Dr. Tim Whatley. Elaine and Jerry suspect that Whatley is a "re-gifter" after Whatley, as thanks, gives Jerry the same label maker that Elaine gave Whatley for Christmas.
Kramer informs Jerry that the Drake's wedding is off because he tried to postpone it in favor of the Super Bowl. George suggests Jerry "de-gift" Whatley the tickets, but Whatley has already made plans to go with Newman. Elaine dates Whatley and asks to come up to his apartment in order to find out whether or not he re-gifted her label maker. Whatley de-gifts Newman's ticket and gives it to Elaine. Jerry and George suspect that, due to Elaine's behavior, Whatley invited her purely with the intent of seducing her. When Elaine hints to Whatley that she does not intend to have sex with him on the Super Bowl trip, he gives her ticket back to Jerry.
Kramer and Newman are playing an intense game of Risk. When Newman has to take a break to go to work, Kramer, who doesn't trust him, leaves the board at Jerry's apartment—a "neutral place"—where he can't get to it. This doesn't stop Newman from breaking into Jerry's apartment through the fire escape and attempting a "sneak attack". Later, when Kramer's car is towed, the two take their game with them on the subway ride to the impound lot. Kramer taunts Newman over the fact that most of his remaining troops are in the "weak" nation of Ukraine, accidentally offending a Ukrainian man standing next to them, who upends the board, ruining the game.
George is enthralled by the apartment of his new girlfriend, Bonnie, which includes a velvet couch. However, he fears her roommate Scott, who looks just like him, is positioned to become her new boyfriend. He wheedles Bonnie into getting Scott to move out. Using Jerry's label maker to help Bonnie box up Scott's belongings, George discovers that all the things he liked about the apartment, including the couch and the television, belonged to Scott. He asks Bonnie if she is interested in ménage à trois, hoping she will be disgusted and dump him. Instead, she and Scott are eager to have a ménage à trois with George – Scott then advances on a horrified George.
Elaine confronts Whatley about his re-gifting the label maker. He angrily tells her it was defective because the label adhesive was not strong enough. Elaine, upset, reveals she developed feelings for him because of the free dental work he had done on her, and they kiss passionately. The defective labels on Scott's boxes peel off in the mail truck, making them property of the post office, much to Newman's delight.
Now in love with Elaine, Whatley gives up his remaining ticket, resulting in Jerry and Newman sitting together at the Super Bowl.