A great number of individuals amongst the urban youth and adolescents of Ethiopia arernbecoming more and more involved in gambling activities. Gambling is exacerbated due to thernadvent of online sports betting. Online sports betting does not require a specific gamblingrnterminal to bet and a bettor can place a bet from any location via the internet which makes itrnmore appealing for the current technology attached youths and adolescents. Therefore this studyrninvestigated the pattern and prevalence of online sports betting and its associated risk factors ofrnproblematic gambling among preparatory school students in Addis Ababa, Ethiopia. The studyrnwas conducted on 146 preparatory school students who have at least once placed a bet. Thernstudy showed that most betting participants were male. The study also showed online sportsrnbetting is becoming more and more popular among youths and adolescents because it isrntechnology related which made it easy, efficient, effective, and private according to the studyrnparticipants. Social media platforms also played an important role in the online sports bettingrnindustry because they were the main source of information regarding the odds of the gamernbefore placing abet. Risk factors of problematic gambling were also investigated because theyrnare necessary to design effective intervention plans to prevent the negative consequences ofrngambling. The findings of the study reveal that personal factors like self-esteem and drug abuse,rnsocial factors like peer influence and family gambling habits, and environmental factors likernadvertisements and the opening of numerous betting stations in several places have strong andrnpositive correlations with problematic gambling.rnKey words: Online Sports Betting, Gambling, Problem Gambling, Pathological Gambling,rnRisk factors and Corporate Social Responsibility