Born in Lansing, Michigan, Lambo moved with his family to Crystal Lake, Illinois when he was a small child. He played club soccer for the Chicago Magic before moving to Middleton, Wisconsin in the summer of 2005, where he attended Middleton High School for less than two months before signing a Generation Adidas contract and joining the USA Residency Program in Bradenton, Florida. At the age of 15, he spent the summer training with Everton F.C. during their US tour in 2006 on the recommendation of US international Tim Howard and was invited to Finch Farm before being offered a professional contract on the provision that he could secure an EU passport due to his Greek heritage.
Lambo was drafted in the first round (8th overall) of the 2008 MLS SuperDraft by FC Dallas. He played in the MLS Reserve Division, and was a named first team substitute on several occasions, but missed most of the second half of the 2008 season after he broke his jaw in a reserve team game. Lambo never played in an MLS match, but did appear for his team in an international friendly match versus Costa Rica’s CS Herediano in June 2009.
Lambo was waived by Dallas at the end of the 2011 season. He went on trial with D.C. United and Sheffield United in January 2012. After turning down offers from the NASL and the chance of becoming a MLS pool goalkeeper, he retired from professional soccer at the age of 21.
In the Fall of 2012, Lambo enrolled at Texas A&M University and joined the football team as a placekicker. He became starting field goal kicker after overtaking Taylor Bertolet during the 2013 season (Bertolet remained the kick-off specialist). His first career appearance came on September 22, 2012 when he made an extra point against South Carolina State. His first game-winning field goal came against Ole Miss on October 12, 2013. With the game tied at 38 and only four seconds remaining in the game, Lambo kicked a 33-yard field goal to win the game for the Aggies. Lambo converted all 59 extra point attempts for the 2014 season.
He went on to compete in the 2015 NFLPA Collegiate Bowl.
On May 2, 2015, after going undrafted in the 2015 NFL Draft, Lambo signed a contract as a free agent with the San Diego Chargers. Lambo was brought in for competition for the kicker spot. On September 5, Lambo won the starting job over the incumbent veteran Nick Novak. He displayed a strong leg during exhibition games, while Novak did not have a touchback in the final half of the 2014 season.
On October 17, 2017, Lambo signed with the Jacksonville Jaguars.
On November 12, 2017, Lambo made a game-winning 30 yard field goal in overtime to give the Jaguars a 20-17 win over his former team, the Chargers.
In Week 8 of the 2018 season, Lambo kicked a new career-long 57 yard field goal. He was placed on injured reserve on December 28, 2018 with a groin injury.