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The present study examined extracurricular sport participation variables and developmental context in relationship to perceived self-efficacy among underserved adolescents. Participants (n = 821, 13.6 ± 1.5 years) completed the Youth Experience in Sport questionnaire and General Self-Efficacy Scale. We used the Human Development Index (HDI) to characterize developmental contexts. Multilevel regression models were used to explore the relative contributions of age, sex, years of participation in extracurricular sport, HDI, and perceived positive experience in sport. Our results highlight that positive experience alone and in interaction with length of participation in the program fostered perceived self-efficacy. Participants from higher HDI contexts remained longer in the program. An implication of our research is that variables linked to positive sport experiences and perceived self-efficacy can be used as markers to evaluate the outcomes and impact of sport participation programs aimed at promoting positive youth development.