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In RACETRACK's familiar twist of fate, moderately crooked gambler Joe Tomasso (Leo Carrillo) finds himself turning to the straight-and-narrow after "adopting" little Jackie (Junior Coghlan), who was caught hanging around the racing stables. Thinking that the boy is an orphan, Joe takes up the kid's interest in horses and trains him to be a jockey. When Jackie's real mom (Kay Hammond) shows up, she both falls for Joe and begs him to stop the boy from racing. Recognizing that the kid needs his mom more than the corrupting influence of the turf, Joe pulls a few strings before the big race, reuniting mother and son, with a chance that he may become the boy's dad for real.