Youths in Bahir Dar city have been placing bets on football games, with the hope of winning money and as a form of leisure. Participation in sports betting in Bahir Dar has been increasing since 2013. Sports betting have been in existence for less than a decade; its effects on the population have not been well documented in many countries. The aim of this study was to asses’ sports betting participation and its effects on youths’ wellbeing in Bahir Dar. Primary data was collected using a structured questionnaire on a sample of 360 youth in Bahir Dar. The research instrument for the study is designed through conducting the quantitative method. Data was analyzed through descriptive statistics, comparing mean analysis(i.e ANOVA)and other analysis (i.e correlation analysis and multiple linear regressions). According to the study findings, all factors; economic, social and psychological were identified as critical factors that affect sport-betting participants’ wellness. The study findings indicate that gender, Age group, family status and income were more likely to increase participation of youths in sports betting. Male youths were found to have a higher likelihood to participate in sports betting compared to their female counterparts. These results support the assertion that the age group 23-27years old has more probability participating in sports betting. Individuals who have no child also are more likely to participate in sport betting. In addition, youths who get above 5000 birr have a higher likelihood to participate in sports relative to youths who paid less.