"Binbougami ga!" centers on Ichiko Sakura, a high school girl blessed with an extraordinary amount of good fortune, which inadvertently drains the happiness of those around her. Her life takes a dramatic turn when Momiji Binboda, a poverty god, arrives to rectify the imbalance caused by Ichiko's excessive luck. Momiji's mission is to reclaim the stolen fortune and redistribute it to those who have suffered due to Ichiko's presence.

The narrative unfolds as a comedic battle of wits and supernatural abilities between Ichiko and Momiji. Ichiko, initially dismissive of Momiji's claims, gradually finds herself entangled in a series of absurd and chaotic situations. Momiji employs various tactics, including summoning other gods and spirits, to challenge Ichiko's overwhelming luck. Despite their antagonistic relationship, the two develop a reluctant camaraderie as they face mutual threats, such as the malevolent god of misfortune, Bobby.

Supporting characters add depth to the story, including Ranmaru Rindou, a stoic and skilled exorcist who becomes an ally, and Tsuwabuki, a cheerful and loyal classmate who often finds himself caught in the crossfire of Ichiko and Momiji's antics. The series blends humor, supernatural elements, and occasional moments of introspection, exploring themes of balance, empathy, and the consequences of one's actions on others. The dynamic between Ichiko and Momiji drives the plot, with their evolving relationship serving as the emotional core of the series.