Acquisitive crimes share a common thread in that they focus on obtaining some form of benefit. There is considerable variation in the potential risks and rewards inherent in each crime type, however. This study assessed whether perceptions of risk, rewards, and social costs differentially predict engagement in four acquisitive crimes: credit fraud, drug selling, burglary, and robbery. This study also examined specialization within these offenses. The results suggested that increased risk perceptions reduced the odds of engagement in burglary and drug selling. Reward perceptions increased odds of engagement in fraud, burglary, and robbery. There was limited specialization, with some exception for drug selling. Understanding the perceptual dynamics of acquisitive crime is important for developing policies tailored to specific crime types.