The current study examined the application of resilience theory to adolescent gambling using Latent Class Analysis (LCA) to establish subtypes of adolescent gamblers and to explore risk and promotive factors associated with gambling group membership. Participants were a diverse sample of 249 adolescents ages 14 to 18 (30.1 % female, 59.4 % African American) presenting to an inner-city emergency department (ED) who reported having gambled at least once in the previous year. Two classes of gamblers were identified and distinguished based on the probability of endorsing gambling consequences: high consequence gamblers (class 1) and low consequence gamblers (class 2). Despite similar profiles on gambling frequency and largest amount gambled, high consequence gamblers (accounting for 37.8% of current gamblers) were more likely than low consequence gamblers to gamble more than planned, feel bad about their gambling, have arguments with friends and family about gambling and to borrow to pay back money lost while gambling. Compared to the low consequence group, high consequence gamblers were more likely to use marijuana, consume alcohol, engage in peer and dating violence and delinquency, and to report negative peer influences. Low consequence gamblers had higher levels of parental monitoring. Individuals in the high consequence group had higher scores on the risk, and lower scores on the promotive, factor index and Risk x Promotive Factor Index scores predicted gambling group membership. These findings support a risk-protective model of resilience and indicate that promotive factors buffer against high consequence gambling in the context of risk.