This paper examines gender differences in risk aversion among Chinese university students. Chinese females are proposed to be more risk averse and require a higher risk premium when faced with a gamble option in the gain-domain frame as compared to Chinese males. Two groups of 100 participants each (male = 100 and female = 100 in total) were recruited to fill up questionnaires that included items relating to objective probability lotteries. Within each group, it was found that Chinese males and females did not differ in their risk aversion. However, results show that Chinese males tend to react more readily to rising risk premium by taking up options with higher expected values when compared to Chinese females. Current findings will have useful implications to marketers (particularly, promoters of gambling products) and problem gambling counselors.