Tipico names Axel Hefer as CEO

Hefer joined Tipico as chief operations officer last year.
Hefer joined Tipico as chief operations officer last year.

Hefer will succeed Joachim Baca as chief executive of the gambling group.

Malta.- Tipico Sportwetten has named Axel Hefer as its new CEO. Hefer has been chief operations officer since last year. He will succeed Joachim Baca, who will transition to chairman following eight years as chief executive.

Baca has overseen Tipico’s rise to become the leader in the sports betting market in Germany following a period of regulatory change. It’s not reported to have a 50 per cent market share, and it has 1,300 betting points in Germany and Austria.

CVC Capital managing director and former Tipico Chairman Daniel Pindur said: “Over the past eight years, Joachim has done a remarkable job in advancing the development of Tipico and establishing it as an international sports betting and technology company. We are grateful for his outstanding contributions and are pleased that he will continue to play a key role as chairman of the Supervisory Board.”

Hefer is currently chairman of FC Schalke 04 and a strategic advisor to the hotel price comparison platform Trivago, where was CEO and managing director from 2020 until he joined Tipico in 2023.

Hefer said: “In recent years, Tipico has evolved from a startup to the definitive market and technology leader in sports betting in Germany. I am eager to continue this success story with the Tipico team and the owners. Together we are committed to providing sports fans with the best and most secure betting experience, extending our market leadership, and achieving additional sustainable growth.”

Baca said: “Leading Tipico on its strong growth path, building structures and expanding the product portfolio has been a great privilege. We have thus set the stage for a prosperous future.

“I am proud of our collective accomplishments and look forward to remaining a part of the team and continuing to contribute to the ongoing success as chairman of the Supervisory Board. I would like to express my gratitude to all my colleagues and the owners of Tipico for their trust and the exceptional collaboration.”

German sports betting body calls for market review

Meanwhile, the sports betting trade association Deutscher Sportwettenverband (DSWV) has welcomed the German gambling regulator GGL’s warning about unlicensed betting during Euro 2024. It’s now calling for a review after the tournament due to concerns that the black market continues to loom large.

DSWV forecasts that Germans will bet over €1bn while the country hosts Euro 2024, making the championship “a great opportunity to win back many former customers who have migrated to the black market”. However, it warned that “at least a third of this is likely to end up on the books of illegal betting providers outside of Germany”.

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