The study of resilient children has overturned many deficit-focused models concerning the ontogenesis of children raised in adversity. This study explored the relationship between risk and protective factors, resilience, and youth gambling behavior. More specifically, this study examined the relative contribution of various risk and protective domains in relation to problem gambling behavior and examined whether youth identified as resilient (high risk exposure–high internalized protection) were as likely as those identified as vulnerable (high risk exposure–low internalized protection) to engage in excessive gambling behavior. The sample consisted of 1,273 students ages 12 to 19. The findings demonstrated that risk and protective factors each provide a unique contribution to the prediction model of gambling problems. Resilient and vulnerable youth differed significantly in their self-reported gambling severity. As well, resilient youth were not statistically distinguishable from low-risk exposure groups in terms of their gambling severity. Findings are interpreted with respect to resilience and prevention research.