Bernard Marantelli steps down as Colossus Bets CEO

Colossus Bets CEO Bernard Marantelli has left his role at the helm of the pool and syndicate betting operator and supplier with immediate effect.

Marantelli moved to Spain with his family and has made the decision to step away from the day-to-day running of the business after more than eight years as CEO.

He will transition into a consultancy role to advise the business on a variety of issues including business development and product innovation.

Colossus Bets COO David O’Reilly, who has also been with the business since it was founded, has been promoted to the CEO role.

Chief commercial officer Eva Karagianni-Goel, who joined the pool betting operator in 2016, will be promoted to COO.

Bernard Marantelli

“It is a bittersweet moment when a founder like Bernard, who has brought so much innovation and drive to Colossus and the industry more broadly, steps down from his CEO duties,” O’Reilly said.

“With that said, it is very much business as usual for Eva and I and we are lucky to be supported by a fantastic senior management team, many of whom have been with Colossus since the early years and who really stand behind the Colossus vision,” he added.

Colossus has confirmed that Karagianni-Goel will consolidate her current duties as CCO with the new COO role.

“David and Eva will ensure continuity in all our activities and they look forward to working closely with all Colossus partners and customers,” the operator said in a statement.

O’Reill previously worked as an MD in Betfair’s Gibraltar office before leaving to join Colossus Bets in 2012.

A pioneer of pool betting, Bernard Marantelli was one of the first to develop cash-out technology.

He has overseen the firm’s expansion into more than 100 countries internationally, with more than 80 million bets being placed since its creation.

Colossus Bets took home the award for best use of a brand ambassador at the EGR Marketing and Innovation Awards earlier this year.