After 2 hours worth of searching with no answer, I decided to run a test and it worked. This is what I did to have multiple Game Center IDs on iOS7. (People responding may have over looked this detail because they assumed it was obvious, but it wasn't)
Answer: you MUST have multiple Apple ID accounts, however, you use the main one to log in to SETTINGS > ITUNES & APP STORE.
1. I deleted the Alternate Email Address associated with my account
2. I created an entire new Apple ID with this email address
3. I login in to SETTINGS > ITUNES & APP STORE with my original Apple ID (credit card on file)
4. I login to Game Center, iCloud, etc... with my kid's NEW Apple ID
So purchasing still goes under our shared account and game center, iCloud, etc... go under my kid's Apple ID.
^ ^ ^ ^ This is the simple straight forward answer I was looking for ^ ^ ^ ^