Do you think Kids should be allowed to gamble ?
This shouldn't even be a question, the answer to every responsible adult will be no.
If no, how to protect them ?
Protect them by not letting them know you gamble even if you do. Kids can easily pick up habits they see their parents doing. Don't turn your kids who certainly will not have the discipline to control themselves from such an early age into problem gamblers. An irresponsible kid is not only a danger to you, but also to the society.