Taking the reins: Dominik Beier gives his first interview as Interwetten CEO

Becoming the CEO of a Power 50 operator can be a daunting task even for execs with decades of industry experience to their name. However, for 27-year-old Dominik Beier, the new CEO of Interwetten, he clearly doesn’t see his relatively tender age as a hindrance to the task at hand.

At the time of his appointment, the Germany-facing operator made much of the fact Beier was “the youngest Speaker of the Board in history of all gaming companies” and the company appears excited by the prospect of being led into a new era by such a young CEO.

Now, only two days into his new role, Beier speaks to EGR about how he plans to take the sports betting operator to the next level.

EGR Intel: Why did you decide to make the switch to B2C and take up your current role at Interwetten?

Dominik Beier (DB): I had a great time at Sportradar for over six years, working in one of the fastest growing and innovative companies worldwide. Now it was time to change sides and learn more about the B2C side of the sector. Interwetten, therefore, came at the right time. The shareholders share the same vision and values as I do, so I considered this the right next step in my career and will hopefully stay with Interwetten for a long time as well.

EGR Intel: Interwetten claims you are the youngest speaker of the board (CEO) in the industry’s history. Does this put added pressure on you?

DB: Not at all – people who know me, know that I am a very hard-working and dedicated leader and a great team player. The team here at Interwetten brings a lot of industry experience, so I am sure we will work perfectly to successfully further grow the business. Additionally there was a phrase of my first boss, which I will never forget: “There are no young or old employees, there are only good and bad ones”.

EGR Intel: How do you plan to stamp your own authority on the business given Werner Becher had been CEO of the company for so long?

DB: Werner has done a great job over the past seven years, which I am very thankful for. The foundation is great to build on – we need to take the next step though and grow as a company. We need to be the guys who run the extra mile, the guys who are more flexible and more disciplined than our competitors. If we manage to do that, I am sure, with this very solid foundation, we will also be very successful in the upcoming years. My job will be to make my team better and enable them to achieve the plans we commonly have.

EGR Intel: What is your perspective on the current regulatory situation in Germany and recent changes regarding the Interstate Treaty?

DB: Germany has been a rollercoaster over the past years. Interwetten is always interested in fair regulations. At the moment I fear that the planned regulation will only support any offshore market, rather than building up a fair and competitive market, but I am sure that the regulators will find a good way to solve this. Therefore it will be important though to talk and listen to the industry, especially to the ones who are interested in a regulated market.

EGR Intel: What would you like to see happen from a regulatory perspective and is Interwetten involved in any of these governmental conversations?

DB: Through the German sports betting association, we are in constant talks and exchange with the industry and governmental bodies. Our COO, Dr. Birgit Bosch, will also be part of the board at the DSWV very soon, which will help our industry to move it into the right direction since she brings a lot of experience with regulations in many countries all over the world.

EGR Intel: With the exception of Germany, what are some of Interwetten’s other biggest markets?

DB: Interwetten is mainly operating in the ‘Germanics’, where we have achieved a very good market position. Other than that we are also licensed and operate in Sweden, Spain and Greece where I do see a lot of growth potential for us.

EGR Intel: Are there any other markets you are looking to enter to boost growth in the future?

DB: Yes, indeed – I can not disclose them for now, but due to my role at Sportradar, I had the pleasure to learn about all different markets worldwide. There is a lot of dynamics in various markets at the moment and I think we have to be the speedboat and first-mover in new markets. I am sure we can do that very successfully since we have a great operations, product and marketing team which is able to scale to new territories quickly.

EGR Intel: What is it about the Interwetten brand and product that makes it stand out from its competitors?

DB: First of all, Interwetten has been operating for almost 30 years. I am not aware of many operators which have that experience and knowledge as we do. Interwetten is a very well-working family with great and experienced employees and a strong brand and operations. Also, our product is one of the best on the market, so all in all, we do have the perfect ingredients to further grow in a healthy way.

EGR Intel: The Interwetten product has a separate tab for esports betting. Is this an important vertical for the business and an area you see a lot of potential?

DB: We always need to invest into new products and offers obviously. Looking at pure numbers though, esports has not hit the ceiling yet and I am sure there is enough room to grow. I do think that most of the operators just add it as another sports, whereas you need to find another market and communication approach in order to make substantial revenues. We are currently working on that in order to optimise this.

EGR Intel: Given the level of scrutiny on the industry currently, what is Interwetten doing from a social responsibility and responsible gambling perspective?

DB: We fully support any responsible gaming approaches and organisations. Interwetten is one of the most responsible operators with the highest sense for integrity and invests into CSR activities.