Background: Young Australian drinkers (aged 18–24 years) are more likely to consume alcohol at risky levels than any other age group. The increased availability and diversity of low alcohol beverages (LAB)s available to Australian consumers presents an opportunity for young drinkers to moderate their drinking behaviours. Aim: To explore young risky drinkers’ awareness, perceptions and behaviours towards LAB products. Study Type: A cross-sectional online survey of 159 young Australian risky drinkers aged 18–24 years. Methods: Demographic information, LAB awareness, previous consumption and perceptions of LABs reducing alcohol consumption were captured. Descriptive statistics, Pearson's chi-squared analyses and binomial logistic regression were used to explore data. Results: Overall, 51% of respondents had previously consumed LABs, with most doing so on a few occasions. The choice to consume LABs was influenced by factors including friend and family influence (28%), curiosity (28%) and the purposeful intent to reduce alcohol intake (27%). In contrast, factors preventing the consumption of LABs included individuals’ intent to get drunk (58%), a lack of consideration of LABs (49%) and the perception that higher strength beverages were more desirable (35%). The majority of respondents (63%) agreed that LAB products would assist them and their peers to moderate alcohol consumption behaviours. Conclusion: The majority of young risky drinkers surveyed have consumed LAB products on a limited number of occasions or not at all. There are several factors likely preventing greater uptake of these products. Further work is required to explore whether greater exposure to the diversity of LAB products can moderate alcohol consumption behaviours.