Youth gambling is commonly described in policy and research as a high-risk behavior. To design relevant measures to prevent gambling problems among youth, it is important to understand how youth themselves relate to gambling. To explore how youth navigate their position on gambling in the context of their everyday lives, we conducted qualitative interviews with 35 participants aged 17–21 years in Sweden; 15 had gambled and 20 had experience of others’ gambling. The thematic analysis showed that both gamblers and non-gamblers overall had negative attitudes toward gambling and emphasized repeatedly discourses of personal responsibility in it. The participants used various neutralization techniques to navigate the economic and addictive risks of gambling. Youth who gambled distanced themselves from the risks of gambling by drawing a line between themselves and excessive gamblers, between safe and unsafe gambling, or highlighted how their skills and strategic thinking made gambling less problematic. Also, gambling in liminal circumstances abroad or in alcohol-serving venues offered a safe time and place for gambling by separating it from everyday life practices. The findings provide important cues to how young people locate gambling in their everyday life, which is useful knowledge for policy and prevention.