Sports betting has become a popular form of online gambling. Young men might be particularly vulnerable to harm associated with sports betting. This study explored young men’s beliefs about the risks associated with sports betting. The authors interviewed 16 young men from Australia who were between 18 and 24 years. They identified four key themes related to young men’s risk beliefs about sports betting. The themes included: 1) the role of early experiences; 2) the influence of peer rivalry and competition; 3) the normalization of gambling; and 4) the influence of perceptions of knowledge, skill, and control.