In traditional Buddhism, the Bodhi. Tree—a symbol of the Buddha—is worshipped for the accumulation of merit (pin) for the other‐worldly purpose of gaining desirable rebirths. Subordinately, the Bodhi has also been worshipped for the purpose of gaining specific ends in this world. Dynamic modern Buddhist movements in urban Sri Lanka emphasize Buddhist worship as opposed to deity worship for gaining this‐worldly benefit. This latter orientation provides fertile ground for the rise of a new cult of Bodhi worship among the educated, unemployed, urban youth of Sri Lanka. It provides them with a means of emotional expression for a new religiosity that is clearly at variance with the serene piety of traditional Theravada Buddhism. It is also argued that charismatically mediated religious performances are structurally similar to a modern, popular secular‐musical performance: both of them bind the same youthful devotees to one another in similar ways in a spirit of communitas. [Asia, Bodhi Tree, Buddhism, Sri Lanka, youth, religious change]