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● Ending Explained Updated May 2026 12 min read

Squid Game: The Official Podcast: the twist, final scene, and what the ending means.

A complete, scene-by-scene breakdown of the ending — including the closing shot and the answers our editors get asked most.

By FilmLookup Editorial, Senior Editor · Reviewed by FilmLookup Reviewer · Published May 13, 2026

Spoiler Warning

This article contains major spoilers for Squid Game: The Official Podcast (2024).

● Quick Answer

So what actually happens at the end?

An editorial breakdown of the closing minutes of Squid Game: The Official Podcast is in progress. Full beat-by-beat coverage will publish shortly; for now, the plot summary below covers the major narrative arcs through the climax.

Plot recap leading into the ending

Squid Game is a South Korean dystopian survival thriller drama television series created, written, and directed by Hwang Dong-hyuk for Netflix. The series revolves around a secret contest where 456 players, all of whom are in deep financial hardship, risk their lives to play a series of children's games that result in death if eliminated, for the chance to win a ₩45.6 billion prize. The series' title draws from ojingeo ("squid"), a Korean children's game. Lee Jung-jae, who portrays series protagonist Seong Gi-hun, leads an ensemble cast.

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Frequently Asked

What is Squid Game: The Official Podcast about?

Hosts Phil Yu and Kiera Please unpack the twisted politics of fairness, the final betrayal of the Os, and Player 456's decision to protect the baby.

Where can I watch Squid Game: The Official Podcast?

See the Where to Watch section below for the current streaming, rental, and purchase options in your region.