This study investigated gambling among Danish and Swedish male elite football players. A cross-sectional design was used to survey 323 players (Mage = 22.08, SD = 5.15). The survey included a screening tool for gambling, as well as measures for depression and sport anxiety. The overall rate of players identified as at-risk gamblers was 16.1%. Linear regression analyses revealed that depression and sport anxiety significantly predicted gambling behaviors, and explained 2% and 6% of variance, respectively. The age of the players and the age at which they specialize did not moderate these relationships. Further research on gambling in football and its relation to mental disorders is needed.