Yes, there is a significant risk of mold growth after a pipe bursts, especially if water damage is extensive and not promptly addressed. To prevent mold, you should start by drying out the affected area as quickly as possible, using fans and dehumidifiers. Remove water-damaged materials like carpeting and drywall if necessary. If you notice signs of mold or the area is large, it may be best to call a professional mold remediation service.