A Kensington man who won $86,000 at the racetrack in 1970, was ordered yesterday to spend the next 52 weekends in D.C. jail for failing to tell the Internal Revenue Service on his tax return about $43,000 of the winnings.

Ollie H. Lincoln, of 9918 La Duke Dr., received the sentence for his "no contest" plea for a misdemeanor tax evasion charge last month. Lincoln's plea came several weeks after a jury trial in which the jurors voted 8 to 4 to acquit him, but were released after they could not agree on a unanimous verdict.

Lincoln said yesterday that the omission of the $43,000 was an honest mistake that came from his failure to check income-tax returns prepared by his accountant. Lincoln pointed out, as he did during his earlier trial, that he did declare $43,000 in racetrack winnings in 1970 - half his actual track income.

U.S. District Judge Charles R. Riohey rejected that argument, saying Lincoln was a defendant who "has chosen to live by his wits. He is not an ignoramus." He added that Lincoln had omitted declaring the winnings in 1970 while he was on probation for a guilty plea in an earlier income tax evasion case.

Lincoln, who has four children, also has previous convictions on gambling and firearms possession charges. In addition to the 52 weekends in jail, Lincoln must pay a $1,000 fine and perform 200 hours of community service to organizations, including the American Cancer Society, Richey ordered.