If you go before 3pm, admission is $23/adult. After 3pm (closes at 6pm) it's $11.50, which is more reasonable and 3 hours should do it for you. Despite high admission, the food is reasonable. $4 for a grilled chicken salad, for example.
We went on a Friday afternoon with our 5 y.o. They have a nice splash pool and slides for toddlers, but you'll want to watch your kids as the lifeguarding isn't adequate for kids eager to push each other down slides.
The lazy river and wave pool are nice for kids or adults just wanting to soak in the sun. While the pools were somewhat crowded, the wait for the slides wasn't bad; there was no wait at all for the highest slide and tube slides; both are fun. We were able to take our 5 y.o. on the Twin Twisters in the family raft, was great fun.
I got blisters on my feet from just a little walking on the concrete without shoes...take aqua socks!
If you're spending a few days at LBL, this is one of the truly fun things for kids to do, so check it out some afternoon.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.