Personality traits don't always pass down through the generations like tele-genetics do. So although I do think one of his descendents "inherited" Osbourne's knack for gambling, he wasn't the heartless bastid that his ancestor was.
Who was this member of Osbourne's family tree? I think we can make the theory of relateeveety between Walter Osbourne and Mr. Lucky.
"Lucky" was not his real name, but we never learned what it really was. I like to think it was something of a Slavic nature corrupted to "Lucky" - like Lukovic. Walter Osbourne was just one of the many branches of that family tree but the one who contributed the DNA instead of the surname...
'Maverick' - "The Judas Mask"