questions about movie"real steel",

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i just watched the movie "real steel" with our whole class,and some discussions occurred to my mind.first,the dad has dumped his son and wife for many years and didn't even konw the age of his son,what's more,he traded the custody of son for money to get a robot,he sold his son totally!is that a possible thing that a father would do?if i were him,i won't give a tiny thought to that! secondly,the dad has put so much on robot boxing and kept failing,he could be called counting pennies,but why is he still on it? i thought he has drowned in a sort of gambling.and i know how this movie ends,he met his son,they had common interest,and they finally made their robot such a big boxer,and succeed,but what if he didn't? if he didn't meet his son and kept failing and went bankrupt,what would he do? is he gonna move on to other field or be kicked by his creditor?