Parents And Their Children In Gambling.. - page 17.

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Quote from: Adbitco on September 30, 2022, 06:33:46 PM

Is totally wrong for a father (Parents) not to nurture their children properly before exposing them to money, this is were most parents got it wrongly. At first you must give your child a mentality that making money is very hard and you Must spend money wisely without living a wasteful life for that i don't have to lay any blame on the child rather his parents for living a wasteful live. Believe me or not., as a child you have approximately 35 to 40 percent your father's character and 25 percent of Mothers character while the rest are inborn or a self developed characters due to bad friends or environmental factor. So whatever father does definitely his son must copy it if the father didn't hide himself in most cases, and he just displayed the true nature of the father.

So lastly, we don't have to allow our children to live a life without proper control and caring, despite how wealthy the parents may be, and should be restricted from gambling if not 18 year or more. I wonder what he would become in 10 to 20 years time to come.

This is a very common mistake, since the majority of those which are rich became that way and they were not born into those riches they do not want their children to suffer the way they did, and they overcompensate by giving to their kids everything they may want and even more than that.

But as you say this creates the impression on those kids that getting the best out of life is easy, as everything was gifted to them without having to work hard for it, so when they grow up they have nowhere near the determination and abilities of their parents and eventually squander their fortunes.

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I won't risk my children to delve into gambling for what I know only a few who are capable of making money in that industry because the stories or experiences from relatives and friends, most of them ended up in debt.
The biggest problem they would face is addiction and it is very hard to develop discipline and mental capacity to fight this. I wouldn't like my children getting addicted into something that can ruin their whole life with a low possibility of being successful in the long-term.

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I have 2 children, when I see them, I have high hopes that they will grow up to be responsible for themselves and not do anything negative. I disapprove of them if they spend their youth in nightclubs or casinos plus drunkenness and women.

being a parent is difficult, we are forced to be able to shape a child into a useful figure for society and family. from the case that happened to Jordan jr at the OP, it is very clear that he is following in the footsteps that his father left behind, he spent that much money (his parents' legacy) for something fictitious.

although I gamble but as much as possible I hide it from the children with my partner's support so that they are not inspired to do that because the school period is important and builds their character. but when they pass 21 years old, I can only say things they should do and not, that's if they still listen to me, but I still hope they will listen to it (my advice forever).

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Quote from: Vaskiy on October 04, 2022, 07:32:37 PM

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Quote from: _act_ on October 01, 2022, 03:59:28 AM

Everyone has their own mistakes to learn from, people like to try something out. I have a friend, he gambled for the first time, he lost and he never gambled again as he has been saying after the lost, that is his experience. The Money my friend used could be small to us, but not small to the poor. He is not rich like Micheal Jordan's son but the money used was small to him. That means the money Michael Jordan's used is small to him too and he learned his lessons. That is just life. That does not mean the guy won't be successful or that he is not taught well. Try check the other part of a person's life before making conclusion.

You may be right, MJ's son only uses his daily allowance to try gambling even though the nominal money is very high for the needs of the middle class, but because the father is also a gambler so it is impossible for the fruit not to fall under the tree, it means he is also following in his father's footsteps as a gambler, maybe he will bet a million dollars in the future.

His father have made millions and now enjoying the earnings, and he's following the footsteps of his father. There is nothing wrong, but everytime there needs to be a thinking of tomorrow. By chance if he didn't get his allowance what will he do. He won't be able to tackle the situation. So, he needs to find a way to have his own money than the allowance from his father to spend on gambling.

Children who do grow into a lifestyle which is on the lavish bracket will surely be not thinking about on getting poor or doesnt really mind off about those allowances or savings for the future since they do know that

their parents is earning huge or making millions which does simply make them think that its just fine or okay to spent out as much as they could which i could say that its not really that right on general sense

but since its their money then its their choice and rights on how they would really be gonna spending it.It is really just that people cant comprehend on how these fellas
spending up their money.

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Quote from: _act_ on October 01, 2022, 03:59:28 AM

Everyone has their own mistakes to learn from, people like to try something out. I have a friend, he gambled for the first time, he lost and he never gambled again as he has been saying after the lost, that is his experience. The Money my friend used could be small to us, but not small to the poor. He is not rich like Micheal Jordan's son but the money used was small to him. That means the money Michael Jordan's used is small to him too and he learned his lessons. That is just life. That does not mean the guy won't be successful or that he is not taught well. Try check the other part of a person's life before making conclusion.

You may be right, MJ's son only uses his daily allowance to try gambling even though the nominal money is very high for the needs of the middle class, but because the father is also a gambler so it is impossible for the fruit not to fall under the tree, it means he is also following in his father's footsteps as a gambler, maybe he will bet a million dollars in the future.

His father have made millions and now enjoying the earnings, and he's following the footsteps of his father. There is nothing wrong, but everytime there needs to be a thinking of tomorrow. By chance if he didn't get his allowance what will he do. He won't be able to tackle the situation. So, he needs to find a way to have his own money than the allowance from his father to spend on gambling.

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Quote from: romero121 on October 01, 2022, 01:35:59 AM

Here it is about the wealthy father who have allowed his son to enjoy what he have earned. Parenting needs to show the kids what is right and what is wrong. Some feel gambling is entertaining because they've got money to have fun. But the same doesn't suit all levels of people. Look at the thread Woman Abandons 4-year-old Child In Gambling Shop As Collateral After Huge Losses which is kind of addiction that the rich ones won't experience because money isn't a concern.

The fact is, money is not everything and money does not control some people's behavior most especially older adults who know how to control themselves when faced with some life decision and setting a priority for life engagement. Parents should teach the children the value of things and also avoid exposing them to some kind of lifestyle that can easily affect their overall character that can bring them into the bad limelight. Even the woman that abandons the kids as collateral has failed in her value as a mother and has allowed her addiction to having the better part of her mental reasoning. But all the same, money is a tool in whatever direction one decides to use it so I wouldn't say having access to money is the real cause of the boy's behavior but the lack of training and value development in the boy is the major cause of his ill act.

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Quote from: rby on September 30, 2022, 04:22:02 PM

Parents unable to control their children spending is the root of gambling addiction. Whatever a child does and not monitored by the parents has the tendency to turn into addiction. In the other hand, addiction is bad for someone who doesn't have, but for the people in the above topic that has enough, there may not be problems with addiction.
The main disadvantage as you pointed out is that his extravaganza lifestyle could push his mates to jealous and they may end up doing unlawful things to meet up his standard.

Parent controlling is most important actually with gambling and they not spent money used, I think all gambling casino have TOS not allowed children under 18 years old, easy when available with gambling site without KYC because children doesn't need to used ID card for deposit. I think here need parent controlling about their children activities, how ever our children have own passive income or not depending still category I will not allowed my children know with gambling, depend on their self later when have been adult to active on gambling or not but I notice them not try gambling is still under parent controlling.

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Quote from: romero121 on October 01, 2022, 01:35:59 AM

Here it is about the wealthy father who have allowed his son to enjoy what he have earned. Parenting needs to show the kids what is right and what is wrong. Some feel gambling to be entertaining, because they've got money to have fun. But the same doesn't suit all levels of people. Look at the thread Woman Abandons 4-year-old Child In Gambling Shop As Collateral After Huge Losses which is kind of an addiction that the rich ones won't experience because money isn't a concern.

Everyone has their own mistakes to learn from, people like to try something out. I have a friend, he gambled for the first time, he lost and he never gambled again as he has been saying after the lost, that is his experience. The Money my friend used could be small to us, but not small to the poor. He is not rich like Micheal Jordan's son but the money used was small to him. That means the money Michael Jordan's used is small to him too and he learned his lessons. That is just life. That does not mean the guy won't be successful or that he is not taught well. Try check the other part of a person's life before making conclusion.

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Quote from: Adbitco on September 30, 2022, 06:33:46 PM

Is totally wrong for a father (Parents) not to nurture their children properly before exposing them to money, this is were most parents got it wrongly. At first you must give your child a mentality that making money is very hard and you Must spend money wisely without living a wasteful life for that i don't have to lay any blame on the child rather his parents for living a wasteful live. Believe me or not., as a child you have approximately 35 to 40 percent your father's character and 25 percent of Mothers character while the rest are inborn or a self developed characters due to bad friends or environmental factor. So whatever father does definitely his son must copy it if the father didn't hide himself in most cases, and he just displayed the true nature of the father.

So lastly, we don't have to allow our children to live a life without proper control and caring, despite how wealthy the parents may be, and should be restricted from gambling if not 18 year or more. I wonder what he would become in 10 to 20 years time to come.

if his father is still alive and still has wealth, it is possible that such juvenile behavior will continue, even into adulthood. when working, he will only spend his money doing the same extravagant activities.

every parent has bad traits. but his parents have to cover up his bad nature. so that it does not become something that is commonplace and can be done by children.
the case described by the OP seems to be purely the parent's fault in implementing parenting. Situations like this are common in rich families. more precisely, in children who do not get much time for parents to talk to each other.

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Here it is about the wealthy father who have allowed his son to enjoy what he have earned. Parenting needs to show the kids what is right and what is wrong. Some feel gambling to be entertaining, because they've got money to have fun. But the same doesn't suit all levels of people. Look at the thread Woman Abandons 4-year-old Child In Gambling Shop As Collateral After Huge Losses which is kind of an addiction that the rich ones won't experience because money isn't a concern.

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Quote from: rby on September 30, 2022, 04:22:02 PM

Quote from: ethereumhunter on September 29, 2022, 11:28:15 PM

Quote from: rby on September 29, 2022, 07:29:36 PM

When children grow in a wealthy family some of the age restrictions are removed, even the way they grow will show they are not kids. Their parents allocates spendable money for them and they won't account for how they spent it. If someone is given money and given liberty to spend it, you will therefore not control how the person spends it. Also the money is there and looking for who will lavish it.
Tell me an underage who smashed 50k dollar per night, do you think he's looking for money? Maybe it's for fun and wait for another weekend to lavish another fund.

I think it will depend on how parents can help manage expenses for their children so they can also know how to use their money properly and correctly. And if a child is already using a large amount of money and can't control it, he can spend a large amount in a month. Moreover, if he could use the money to gamble, we can't imagine how much he would use to get his pleasure. The other kids would probably be jealous that the rich kid could use his money to gamble when they couldn't.

Parents unable to control their children spending is the root of gambling addiction. Whatever a child does and not monitored by the parents has the tendency to turn into addiction. In the other hand, addiction is bad for someone who doesn't have, but for the people in the above topic that has enough, there may not be problems with addiction.
The main disadvantage as you pointed out is that his extravaganza lifestyle could push his mates to jealous and they may end up doing unlawful things to meet up his standard.

Yes, that's true. The tendency to change during gambling will come suddenly because the ups and downs of emotions during playing can make us forget to control ourselves. But for the above topic, they don't have to worry about spending money because they have a lot of money and even the money will come to them. The thing to worry about is the problem of gambling addiction that can come them and this is a serious problem for them if they are too late to control it. It can also create other problems because once the addiction worsens, they will keep coming to the casino and spending more money.

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Is totally wrong for a father (Parents) not to nurture their children properly before exposing them to money, this is were most parents got it wrongly. At first you must give your child a mentality that making money is very hard and you Must spend money wisely without living a wasteful life for that i don't have to lay any blame on the child rather his parents for living a wasteful live. Believe me or not., as a child you have approximately 35 to 40 percent your father's character and 25 percent of Mothers character while the rest are inborn or a self developed characters due to bad friends or environmental factor. So whatever father does definitely his son must copy it if the father didn't hide himself in most cases, and he just displayed the true nature of the father.

So lastly, we don't have to allow our children to live a life without proper control and caring, despite how wealthy the parents may be, and should be restricted from gambling if not 18 year or more. I wonder what he would become in 10 to 20 years time to come.

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Quote from: Oshosondy on September 27, 2022, 01:25:35 AM

Quote from: Fivestar4everMVP on September 27, 2022, 12:03:43 AM

What do you make out of this story, should we really allow our children to live such a lifestyle like gambling and night clubbing, most especially, when they are still under aged?

I have posted several times on this forum that my kids may not know that I am gambling, that I would prefer only my wife to know about it. I still do not know what would be my conclusion about this yet, if it is right thing for someone to let his children to know if he is gambling or not. But I am still thinking that it would be most appropriate to let them know but to teach them how addiction can be and how to avoid it. But as of now,I am having plan to just hide it from children and yet let them know what is gambling addiction and how to avoid it.

I think with the presence of computers and smartphones, kids these days will eventually hear about gambling no matter how we tried to evade them from it. But as for now, while their focus is still in school, I am not also letting them know that I am into gambling because that may only confused them. But maybe when the right time comes, and they become responsible adults, I will explain to them about gambling and definitely its effects to a person’s life once it will be overused or become addicted to it.

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Quote from: darkangel11 on September 29, 2022, 05:24:26 PM

What do you expect from a son when his father is such a role model.

The same feather flocks together. This means that what has been done by the father will possibly be followed by his son. If he is a gambler, then we can expect that one of the family members will do the same.

Quote

On one hand you should keep your children out of trouble, but it gets hard when you cannot keep yourself out of it and the child sees it. Like when the father parties every weekend it's hard to expect the son to be a quiet kid who doesn't want to do the same. It's a well known fact that when children are beaten by their parents they often beat their children later in life.
If you don't want your kids to be gamblers at least don't show them how you gamble. Keep them away from this life.

It was totally in the control of the parents but somehow, kids can't be blamed as well because that is what they see. In fact, many cases happen where your kid does gambling secretly, and it was easy for them now since there are several online casinos which is hard to monitor. If we don't want to see our son do gambling, then we also have to decide to stop gambling as well so you have an excuse not allowing him.

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Quote from: ralle14 on September 29, 2022, 08:01:20 PM

Quote from: Fivestar4everMVP on September 27, 2022, 12:03:43 AM

What do you make out of this story, should we really allow our children to live such a lifestyle like gambling and night clubbing, most especially, when they are still under aged?

I doubt any parent would want their children to live in that kind of lifestyle and I have to agree with the others as i'd also point the blame on the parents because maybe Marcus was exposed to that type of lifestyle at an early age and was neglected by his parents.

There are parents that give their children lots of freedom but I am sure they don't want their children to do things that is against the law. In this case, I think Michael Jordan has no knowledge that his son will do such things. He happen to know it after his son did it. Of course I believe he fix things up and possibly pay for fines and penalties through money. No father wanted their son to be detained.

Quote from: ralle14 on September 29, 2022, 08:01:20 PM

Quote from: |MINER| on September 29, 2022, 11:38:11 AM

Many times we have heard the rule of parents being killed by addicted children. So I think children should take care of these aspects from childhood.

I've never heard about that rule but I remember reading an article about children being affected by their parents' gambling activity. It's possible for one to take care of their own problems but it's not easy for everyone though so it's still best to have some help from your parents at an early age.

There are news about kids killing their parents and vice versa because of addiction. I think those things happen because the mind of a person is already corrupted. Though I also agree that most of a child's trait is gotten from their parents since the first education comes from the family. So kids mimic whatever activities their parents do so if the parents are constantly being witness by their kids gambling then that gambling traits will be passed down to the next generation.

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Quote from: ethereumhunter on September 29, 2022, 11:28:15 PM

Quote from: rby on September 29, 2022, 07:29:36 PM

When children grow in a wealthy family some of the age restrictions are removed, even the way they grow will show they are not kids. Their parents allocates spendable money for them and they won't account for how they spent it. If someone is given money and given liberty to spend it, you will therefore not control how the person spends it. Also the money is there and looking for who will lavish it.
Tell me an underage who smashed 50k dollar per night, do you think he's looking for money? Maybe it's for fun and wait for another weekend to lavish another fund.

I think it will depend on how parents can help manage expenses for their children so they can also know how to use their money properly and correctly. And if a child is already using a large amount of money and can't control it, he can spend a large amount in a month. Moreover, if he could use the money to gamble, we can't imagine how much he would use to get his pleasure. The other kids would probably be jealous that the rich kid could use his money to gamble when they couldn't.

Parents unable to control their children spending is the root of gambling addiction. Whatever a child does and not monitored by the parents has the tendency to turn into addiction. In the other hand, addiction is bad for someone who doesn't have, but for the people in the above topic that has enough, there may not be problems with addiction.
The main disadvantage as you pointed out is that his extravaganza lifestyle could push his mates to jealous and they may end up doing unlawful things to meet up his standard.

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Quote from: Fivestar4everMVP on September 27, 2022, 12:03:43 AM

What do you make out of this story, should we really allow our children to live such a lifestyle like gambling and night clubbing, most especially, when they are still under aged?

Frankly I will not allow my children to have such a lifestyle even if I'm a billionaire especially if I become a billionaire through hard work.
Although I'm a gambler but I will teach my children to stay away from it until he knows everything related to gambling (the possible effects).
Once my children are mature enough both mindset and age, I'll let him choose his own passion and lifestyle but of course if I'll warn them if I see that they do something too much.

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Quote from: Fivestar4everMVP on September 27, 2022, 12:03:43 AM

What do you make out of this story, should we really allow our children to live such a lifestyle like gambling and night clubbing, most especially, when they are still under aged?

As a parent, we should never allow our children to go to gambling casinos or some nightclubs especially if they are underaged. We should avoid exposing them to an environment where there are people that could influence them to develop a bad habit. If our children saw from us that we are gambling, it's our responsibility to educate them about what is right and wrong about it.

Most of the parents didn’t allowed there kids to go there. The problem was the curiosity of the children to explore things that they are prohibited especially that most of the children has there own mobile phone and they can search or browse this kind of stuff randomly on the internet.

I think lecturing them in advance for possible danger is much better rather than wait for them to become exposed by there own curiosity because parents can’t guide anymore children if they are doing this things secretly.

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That's basically spoiling your own kid. Even if he is a billionaire, he should still make his kid understand the value of money.
He would have worked hard to accumulate that kind of wealth. In this case he should make his kid know how to earn money first.
By allowing him to spend so much money on gambling and drinking he is just spoiling the kid's life to be honest.
If all the money is vanished then it will be really hard for his son to leave the lavish lifestyle and earn money.
We never know what happens tomorrow.

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Quote from: Don Pedro Dinero on September 27, 2022, 10:27:18 PM

Quote from: Fivestar4everMVP on September 27, 2022, 12:03:43 AM

I believe happened in 2010

Michael Jordan net worth was around 550 millions of USD in 2010.

It may seem like a lot of money to us, but it is a question of ratios. Him spending $5 million in one night at the casino is like someone who has a net worth of $100,000 spending $1,000 in one night at the casino. It's not something you can do every night because it would lead to ruin, but once in a while you can afford it.
~

Exactly. And Micheal Jordan is not an addicted gambler. Losing $5 million in one night happened only once in his lifetime. Neither his son, Marcus Jordan, currently has any problems with gambling. That spending $50,000 at nightclubs in Las Vegas happened 12 years ago, and nothing like that has happened since.

Topic: Parents And Their Children In Gambling.. - page 17. (Read 9120 times)