Commercial and self–organized (i.e., non–commercial) forms of gambling are highly reinforcing activities that are popular among adolescents. While for most adolescents gambling is an enjoyable and harmless activity, for a small minority gambling can become problematic with severe and negative consequences. Risk factors of adolescent problem gambling include certain biological/genetic factors, individual variables (e.g., gender, ethnicity, personality, coping, gambling–related cognitions), family and peer influences (e.g., parental attitudes/behaviors, parental monitoring, influence of the peer group), social and community factors as well as situational and structural characteristics of the gambling products. Despite relatively high prevalence rates of adolescent problem gambling (compared to adults), there is still a sparse description of intervention studies (including pharmacological approaches) in the literature related to this form of problem behavior. Preliminary evidence suggests that cognitive–behavioral interventions might effectively treat young problem gamblers. However, adolescent problem gamblers are very reluctant to seek treatment or formal assistance, therefore another challenge is the implementation and evaluation of non–traditional intervention strategies such as different tools of Internet–based support. In addition, rigorous scientific evaluations of the effectiveness of preventive programs remain few, and thus, at that time it is premature to delineate guidelines for effective preventive interventions. One major research goal should encompass the progress in understanding risk factors of adolescent problem gambling and the translation of the growing knowledge into sound assessment, prevention, and treatment approaches.