Gilbert Arenas: Sorry I Said 'Eff My Kids' ... But My Ex Set Me Up

Gilbert Arenas says he's sorry he said "f*** my kids" during an argument with his ex -- but says he didn't mean it, and blames Laura Govan for "setting me up."

An audio recording of the conversation was released on "The Breakfast Club" radio show this morning -- and while Gilbert admits it's authentic, he says he did not know he was being recorded.

"Yes I said it ... NOT in the meaning as a #deadbeatdad BUT the meaning of a man who was frustrated of fighting a evil demon everyday," Arenas said in an Instagram statement.

"I was letting [Govan] know NOT even the kids will save u. She thinks she can [leverage] me and the kids, she uses the kids to fight her battles."

Gilbert says he believes Govan leaked the tape -- but says he does not plan to take any sort of legal action over it.

In fact, Gilbert says he will not move to strip Laura of custody because he believes "kids need both parents in they lives."