Monmouth Park Jockey Club v. Paul D. Guth, Gilbert Saft and S. Neil Begelman, Executors of the Estate of Samuel Epstein, Deceased

OPINION OF THE COURT

McLAUGHLIN, Circuit Judge.

The facts here are simple and undisputed. In June and July 1968, Samuel Epstein had a credit arrangement with plaintiff, whereby the latter advanced him various sums which he bet upon the horse races then being run at plaintiff’s Monmouth County, New Jersey race track. The cash advances to Epstein were handled by plaintiff’s pari-mutuel ticket seller who took care of Epstein’s wagering transactions. When Epstein sought to bet, the seller would take the necessary cash from plaintiff’s funds and place it in the betting pool of the race chosen by…