Long-Term Betting on Your Kids

According to the BBC, it's becoming increasingly popular for parents to place long-term bets with bookmakers on whether their kids will achieve fame and fortune during their lives. For instance, whether their kid will become a famous soccer player or a great golfer:

A particular type of long-time achievement bet - parents having a bet on their children achieving something in their life - has increased tenfold in the past five years, according to Ladbrokes.
"Parents betting on their children's future successes is as popular as betting on the final of the X Factor," says Jessica Bridge, from the firm.
...it's not all about sporting prowess, he says. Many parents will place bets that their children will pass a particular exam. And then there was the grandmother who thought her granddaughter so beautiful that she wagered she would grace the front cover of a leading fashion magazine.
"People do it for a variety of reasons," says Sharpe. "They are demonstrating that they have real faith in someone - have every confidence in them. They may be using it as an incentive. Or it could just be a bit of fun. Something to talk about, or put on the wall.

If only my parents had placed a bet when I was a child that I would grow up to be a blogger at Weird Universe, they'd be rich! Although the internet didn't exist back then, so it would have been a real longshot bet.
     Posted By: Alex - Wed Jul 11, 2012
     Category: Family | Children | Games | Gambling, Casinos, Lotteries and Other Games of Chance

what a terrible idea. Kids would take this too seriously and perhaps fight against their natural skills ans talents to become mediocre at one thing when they could have excelled at something else. Also some crazy parents out there would push their kids abusively as well.
Posted by Patty in Ohio, USA on 07/11/12 at 09:02 AM
Just because the interweb didn't exist back then, Alex, is no excuse! Parents should be held to a higher standard than their kids. They could have checked with Dan Quayle and asked him when he was going to invent it.

Me? I should have bet that my parents wouldn't let me buy that acre of Florida swamp for $900 back in the day.
Posted by Expat47 in Athens, Greece on 07/11/12 at 10:54 AM
How many of you would hedge your bets and put money down on a kid doing 18 to life in a max security penitentiary? I know I would. I'd probably have a better chance at a payoff too.
Posted by KDP on 07/11/12 at 10:59 AM
Hey Parents!
Don't tell Junior about these stupid bets,or your precious child might fail the exam, or do something else that is stupid. How TACKY to try to make money off your kids in this way. If the kid has no cash incentive to perform (do the kids get a cut? Probably not....) you could be in for a big (sad) surprise....
Posted by girlgeniusNYC on 07/11/12 at 02:49 PM
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