Drinking events are dynamic. The interactions of individuals, groups, and the environment as they relate to drinking behaviour are overwhelmingly complex. This paper presents an empirically grounded dynamic conceptual model to better understand drinking events. Using a collaborative mixed‐methods approach, we developed an aggregated system dynamic model of drinking events. The process began with identification of system elements and boundaries. Once the first aspects of the model were completed, we constructed a causal loop diagram, an aggregated causal loop diagram, and stock and flow diagrams. Finally, we developed and ran computer simulations of the dynamical models. The model presented here can be used to guide future agent‐based, system dynamics, or differential equation‐based models. Such models can help inform future empirical work and modelling to increase the understanding of drinking events and provide solutions to the problems that happen proximal to these events. Copyright © 2018 John Wiley & Sons, Ltd.