Parents And Their Children In Gambling..

[Fivestar4everMVP]

We are going to be using Micheal Jordan as our case study :

Micheal Jordan gambled away $5 million dollars in one night^[1], he is a Billionaire, but that does not remove the fact that that's a hell lots of money to gamble away in just one night, you might want to say he is an adult and a Billionaires, and he is free to spend his money in which ever way he wants - understandable... Now, what about his son?

Marcus Jordan is just 19 years old, he spent a whooping $50,000 dollars in one night in Las Vegas on gambling and drinking in a strip night club^[1][2][3], the report shows he threw away $35,000 in gambling while $15,000 went into drinking alcohol and girls in the club, and do not forget that it is illegal to drink and gamble under the age of 21 in the state of Nevada where they live....

The young lad even posted that night's expenditures on his Twitter account where he said , and I quote....

"Last night was stupid... 35K at Haze," the University of Central Florida sophomore guard said. "Totals 50K something the whole day."

but according to report, the tweet got deleted.

This (from the articles) I believe happened in 2010, but I believe it's a fresh story for those of us getting to know this for the first time,

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?

Let's discuss about this..

REFERENCES
Micheal Jordan -
[1] = https://www.pokertube.co
m/article/billionaire-michael-j
ordan-s-multi-million-dollar-be
ts-5million-craps-loss

Marcus Jordan -
[1] = https://www.espn.com/
mens-college-basketball/news/sto
ry?id=5513792
[2] = https://nba.nbcsports.com/2
010/08/30/marcus-jordan-tweeted-abou
t-underage-tweeting-gambling/
[3] = https://www.essentiallysports.
com/nba-basketball-news-just-like-father
-michael-jordan-who-lost-5-million-in-1-nig
ht-of-gambling-son-marcus-jordan-threw
-away-50k-in-1-wild-vegas-party/

[Mr. Magkaisa]

-  5M$ dollars is equivalent to 290M in our money. That kind of value here is that you have your own company to speak of. In Michael Jordan's situation, that kind of value to him might be a coin or he just doesn't care about it. Now, regarding his son, we don't know if Michael Jordan knows that his son gambled that amount or maybe He knows where He might also tolerated His son for this habit.

Of course, if I were a parent at that age of my son, I would never allow my child to gamble like that just to enjoy his life. Other rich people should teach their children how to value money, and they should learn to work hard for it before getting it so that they grow up knowing and knowing how to appreciate the money they worked for.

[Oshosondy]

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.

[davis196]

I don't think that this topic is about Gambling. It's more about being humble and have some decency, while you are living an easy life in God-mode and you have everything served on a silver platter.
Michael Jordan decides what to do with his money and how to teach his son some life lessons(if he's ever going to teach him about anything).
Life always comes back and bites you in the a$$, it doesn't matter how rich you are.
I don't have children, but if I had any children, I would never give them money for gambling and strip clubs. Even if I was a millionaire or billionaire, I would never do such thing.

[swogerino]

I don't think that this topic is about Gambling. It's more about being humble and have some decency, while you are living an easy life in God-mode and you have everything served on a silver platter.
Michael Jordan decides what to do with his money and how to teach his son some life lessons(if he's ever going to teach him about anything).
Life always comes back and bites you in the a$$, it doesn't matter how rich you are.
I don't have children, but if I had any children, I would never give them money for gambling and strip clubs. Even if I was a millionaire or billionaire, I would never do such thing.

I have a daughter and usually females are rarely attracted by strip clubs or gambling so I start advantaged in this way.If I had a son though I would make sure to show him by examples what this action brings now and in the future and to educate him on a case by case basis until he learned that everything that comes from something that you do not sweat for will not stay long with you,for example the money you win from gambling.You go back to the casino until you lose everything and that is the law of life otherwise we would have seen casinos made millionaires (I mean except people who win multi million dollar jackpots).

[EarnOnVictor]

Gambling is not good for everybody whether it's an adult or young, it is only good for some set of people with the right psychology for it. These set of people might fall or not fall at the legal age, yet they must still be restrained until they have the full right by law to gamble. I know that Micheal Jordan would have regretted what he did that night, and this could be reasoned by such story not repeating itself.

And as a parent, I don't think it is responsible for any parents to allow their children to gamble until they reach the freedom and legal age where parents have no total control over them anymore. Even at that, parents should still be advising and counselling their children on how to live a good life, where gambling responsibly should be among.

[Cookdata]

I think there is a stage you will reach in life that the things you consider big will actually look little in your eye, If I have up to $1000 in my casino wallet and blow it all in one day due to my silly life, it will pain me a lot because that's big money to me right now but if at all I'm a Millionaire and loss $1000 a day, I wouldn't feel anything at all because it is actually not something that will move my pocket, that is the same thing Micheal Jordan and for him to place that kind of bet, he was having an assurance of winning back but gambling they say.

Marcus Jordan will likely pay a fine for violating the law, it is a rule that must be followed, he will surely pay a fine which I think wouldn't be a problem for them if they could blow up thousands of dollars in gambling.

[robelneo]

We are going to be using Micheal Jordan as our case study ......


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?

This is the danger of getting everything in just a short period of time or when you are young and you're earning too much, as a young guy, you tend to be reckless in all the spending you want to taste everything, your reason is I have more years to earn this money might as well try all these stuff, it's not only Michael Jordan but there are many personalities or rich young people who get everything want at an early age if they are not properly guided they will soon lose all their earnings, another of this case is Mike Tyson.

[Wexnident]

Idk at 19 in that specific scenario, I'd blame both child and parent. 19 is an age where impulsive actions are rather of the norm, but it doesn't excuse you from the fact that you let yourself get carried away by a multitude of factors to do something dumb, in this case like this (and technically breaking the law if what OP said is true). Yes, the consequences would be pretty light since they're rich a f, and this is where the responsibility of the parent comes.

As other people have said, it's not even about gambling, it's about taking light of your actions since the consequences would be close to non-existent due to their family background. There's nothing to discuss here imo, it's just the rich acting rich, and nothing we can do about it, they're rich after all (and influential as well most likely).

[TopTort777]

The kid is learning from his father, following his footsteps... I think OP wanted to discuss not "should we let our kids to gamble" topic, but rather "what kids learn from our deeds". I think we have no rights to judge how Michael raise his kids. Like OP says, he can do what ever he wants with his money, he could raise his kids how he wants. But we better stress on what lessons kids learn from what their parents do.

P.S. The fact that Marcus Jordan is underaged is not the main problem. His father isnt saint also. And we all did some creepy and close to illegal things when we were young.

[samcrypto]

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?

Let's discuss about this..

This is the problem if we have too much money and not a good example to our own children. We should not blame the kids here rather blame the parents for exposing those kind into this kind of activities at a younger age. I'm not sure about if its more about their culture but I guess, if you have that amount of money and you didn't work on that at all it's easy to spend it. I know MJ already learned the lesson and now aiming for a more profitable investments, this incident happened years ago and that could be the biggest why they choose to be better.

[Piesel]

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 a plan to just hide it from children and yet let them know what is gambling addiction and how to avoid it.

What I understood from this whole situation is that children are reflection of their parents and whatever your child see you doing as a father he automatically becomes attracted to it, so we mostly know the right time to expose them to some things.

It is not wrong to let your children know whatever you are doing, but there should be age specifications for it all there must attain some certain age before you exposed them to it because it is better to let them know and understand the risk than them learning from outsiders.

[Betwrong]

~ I have a daughter and usually females are rarely attracted by strip clubs or gambling so I start advantaged in this way.If I had a son though I would make sure to show him by examples what this action brings now and in the future and to educate him on a case by case basis until he learned that everything that comes from something that you do not sweat for will not stay long with you,for example the money you win from gambling.You go back to the casino until you lose everything and that is the law of life otherwise we would have seen casinos made millionaires (I mean except people who win multi million dollar jackpots).

This is what I think about the example in the OP. Michael Jordan's son, Marcus Jordan, who is 31 years old now, by the way, learned from his own experience at the early age(19) that overusing gambling and night clubbing isn't a good thing for you and for those around you too. Three years later, in 2013, Marcus graduated with a degree in hospitality management. And 6 years later, in May of 2016, he opened a high-end sneaker store named the "Trophy Room". Now he's dating a famous TV star, Larsa Pippen, and there are no news of him being a gambling addict.

I think it's a good example of how you can learn from your own mistakes.

[rhomelmabini]

I think that's just one instance or a coincidence but even if there are rich adults that even in their lavish lifestyles there child/ren that don't immediately imitate what their parents are doing. I don't think that it's always the case here, it will depend on every case.

[_act_]

I don't think that this topic is about Gambling. It's more about being humble and have some decency, while you are living an easy life in God-mode and you have everything served on a silver platter.

This topic is not about being humble. Because you are gambling, that does snot mean you are not decent. Gamblers with the right mind can be decent too. There are people that are not gambling and not decent.

Life always comes back and bites you in the a$$, it doesn't matter how rich you are.
I don't have children, but if I had any children, I would never give them money for gambling and strip clubs. Even if I was a millionaire or billionaire, I would never do such thing.

That does not mean Micheal Jordan did such a thing too. His child is 19 years old, still at teen age but an adult because he is above 18 years. His father may not know what he did until it became news . We can not know all what our children are doing. Because you did not give your children money for gambling, that does not mean they do not have money to gamble with as long as you are a millionaire.

[yahoo62278]

 Other rich people should teach their children how to value money, and they should learn to work hard for it before getting it so that they grow up knowing and knowing how to appreciate the money they worked for.

Lot's of rich kids are spoiled rotten. The world exists as their playground and they respect noone. If they get into trouble daddy will pay and get them out. Obviously that's not how they should act, and not respecting money will land them in the poorhouse fast if they don't learn but sometimes a hard lesson is what's needed for them to learn. Or the parents need to cut them off and start teaching tough love.

[naira]

Micheal Jordan gambled away $5 million dollars in one night^[1], he is a Billionaire, but that does not remove the fact that that's a hell lots of money to
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?

The answer is of course no, but if parents openly teach gambling in front of their children, then inevitably it will be imitated by their children and will not be much different. Parents play an important role here, Michael Jordan, who is actually a billionaire who spends large amounts of money, is no longer a strange thing. The glamorous life has become a bad habit which at the end of his life will be a bit broken. Now imitated by his son, who is 19 years old and has spent a lot of money. I don't know what he was thinking because he imitated the wrong parents.

[ethereumhunter]

Like his father, who spent a lot of money gambling, his son also spent a lot of money gambling. But it's a story that doesn't need to be done, especially by the kids of the rich because they're not old enough and can spend a lot of money when they can hold their own.

When a child is left with their own money, they will show off to their friends that they have money and can spend it with them. We must make it a lesson for ourselves and our children so that they do not get carried away by the circumstances of their environment and friends.

[coin-investor]

Michael Jordan should know better because he first experienced this he should instill  financial literacy and good morals, to his son, they are both not good models for the youth, they make it appear right to spend on gambling when you are earning a lot when you are still young, the son reflects what kind of upbringing Michael Jordan instill to his son, its about time Michael talk to his son and be a good father to him by teaching him values.

[Daltonik]

<...>

This (from the articles) I believe happened in 2010, but I believe it's a fresh story for those of us getting to know this for the first time,
<...>

Well, if it was 2010, then at that time Michael Jordan was not yet a billionaire, but he was a multimillionaire and his addiction to gambling is described in book "Michael Jordan: The Life", by Roland Lazenby, so there is nothing to be surprised about, he just could afford it.