This study examined the link between adolescents’ perceived parental knowledge (PPK) and gambling. PPK refers to adolescents’ belief about how much their parents know about where they are and who they spend time with. The researchers used data from two waves of the nationally representative ESPAD® Italia survey (2022–2023). They examined responses from 24,631 Italian high school students aged 15 to 19 years old. The findings indicate that adolescents who reported higher levels of PPK were less likely to gamble frequently. This relationship was partly explained by these adolescents being less likely to believe that gambling is common among their peers and more likely to recognize gambling as harmful. Perceived peer gambling was the strongest and most consistent factor that helped explain the link between PPK and gambling behaviour. Awareness of gambling age limits was a significant factor for females only.