College student-athletes represent a high-risk group for heavy alcohol consumption and negative alcohol-related consequences. Although college drinking correlates with access to low-cost alcohol, no study has examined demand, or the relationship between price and consumption, in student-athletes. Furthermore, the prevalence of anxiety, depression, and drinking to cope motives in student-athletes suggest athlete-specific risks of alcohol consumption that have not yet been examined in conjunction with demand. Therefore, the present study examined gender differences in alcohol demand, alcohol consumption, and anxiety and depressive symptoms in student-athletes (n = 118) and nonathletes (n = 78) at three colleges/universities. Participants completed the Alcohol Purchase Task and measures of alcohol-related behaviors and mental health. Observed demand indices including intensity (i.e., consumption at zero price), Omax (i.e., maximum expenditure), Pmax (i.e., price associated with Omax), and breakpoint-1, or BP₁ (i.e., highest price of nonzero consumption) were calculated at the individual level. The rate of change in demand elasticity (i.e., decrease in consumption relative to price increases) was calculated at the group level. Overall, students reported lower alcohol consumption at higher alcohol prices, but men reported higher alcohol consumption and demand intensity than women, student-athletes reported higher Omax than nonathletes, and student-athletes reported lower depressive symptoms than nonathletes. These findings support reducing access to low-cost alcohol in college drinking environments as a harm-reduction strategy, particularly for high-risk student populations, such as men and those involved in athletics. (PsycInfo Database Record (c) 2024 APA, all rights reserved).