Do you think Kids should be allowed to gamble ?
A kid that is allowed to gamble may later sell his father property, we should at all cost avoid our kids to gambling.
If no, how to protect them ?
You can only try your best by monitoring your kids online activities until they become 18, you should let them know the cons of gambling and always discourage them. Even when they are above 18 and they can move in the world themselves and able to register on a gambling site, they will still always remember what you taught them.