You tie a thousand pound iron anchor to your legs and sail for deeper water. At midnight, your shipmates release the anchor and you plunge deep into the black depths of the sea. You die, lose your mind, and gamble with Davy Jones' for your soul. Your luck pays off and you return a wealthy man.
In a drunken stupor you ask your shipmates to tie you to the anchor so you can gamble with Davy Jones at the bottom of the sea. They tie you to the anchor but drop the anchor in the harbor where you fight to get free. When you return, soggy and furious, your shipmates can't contain their laughter about the prank.