IRVING R. KAUFMAN, District Judge.
Plaintiff, Jack Molinas, is a well-known basketball player. In 1953, upon his graduation from Columbia University he was "drafted" by the Fort Wayne Pistons, then a member of the defendant National Basketball Association (now the Detroit Pistons). Subsequently, in the fall of 1953, he signed a contract to play with the Pistons. In January of 1954, however, he admitted, in writing, that he placed several bets on his team, the Pistons...
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