This study examined gambling among adolescent and young recreational athletes and explored how gambling modality (online vs. offline), betting on one’s own sport, and gambling activities might relate to gambling severity and gambling motives. Participants were young people aged 15 to 35 years old who were recreational athletes in a sport officially recognized by the Spanish Sports Federation. A total of 244 participants completed an online survey. The study found that gambling was common among recreational athletes, with 73% having gambled in their lifetime and 16% being at-risk or experiencing problem gambling. Men were more likely than women to report problem gambling and stronger motives to gamble. Online gambling, sports betting, and engaging in card games were associated with having greater risk of or problem gambling. Athletes who bet on their own sport and those who engaged in certain gambling activities, especially slot machines, tended to report stronger gambling motives.