The iGaming Leader

In this episode of the iGaming Leader Podcast, Leo Judkins sits down with Dan Phillips, a 30-year veteran of the industry who started his career as a trainee dealer in a Soho basement and rose to run a £2 billion turnover business. Dan shares the "no-bullshit" reality of leadership, from the gut-wrenching moment his biggest client walked away during his first week as a CEO to the complex ethics of managing global redundancies.
The conversation dives deep into the specific decisions that shape a career: why the "invincibility of youth" can be a leader's greatest asset and its biggest risk, the strategic necessity of admitting when you don't have the answer, and how to spot "wingers" in your organisation. Whether you are leading a team of five or an organisation of 700, Dan’s insights on "customer-first" leadership and the "50/25/25" framework of team commitment offer a masterclass in operational excellence.
Guest Bio
Over three decades, Dan has built a distinguished career that has taken him from the casino floor in London to senior executive positions within some of the world’s leading regulated betting and gaming organisations. 
His experience spans online, retail, and social gaming across both B2B and B2C sectors, establishing him as a respected figure in the global gaming industry. Before joining Playnetic in 2023 as CEO and subsequently as a Non-Executive Director, Dan held a series of Director, Vice President, and C-level roles with major groups including Playtech and what is now the Entain Group. In these positions, he oversaw end-to-end product, service, and operational portfolios, managing large-scale teams and P&Ls while driving innovation, regulatory compliance, and expansion into new markets. 
Alongside his corporate leadership, Dan acts as a trusted adviser to a range of global Tier 1 operators and SMEs, leading initiatives across sports betting, iGaming and casino operations, technology, regulation, product & people development, M&A, and market entry strategies. 
Key Topics Discussed
00:00 – Intro
03:00 – Learnings from the casino floor.
06:00 – The llack of self-exclusion tools and building early operations.
09:00 – Launching mobile bingo for the iPad when the market was uncertain.
12:00 – How to challenge experts when the pit of your stomach says something is wrong.
15:00 – Losing Betfair in week one and boosting business value through hard cuts.
19:00 – Imposter Syndrome at the top: Managing the "loneliness" and infallibility of leadership.
24:00 – The people you have are the people you need.
34:00 – The 50/25/25 Rule: you will never get 100% of people on board.
38:00 – The Power of "No": turning down deals is a leadership superpower.
Memorable Quotes
["I don't know is powerful. I would rather someone says, 'no, I don't know. Here's how I'm gonna find out.'"]
["It's kind of lonely at the top. There's still a feeling that as the leader of any business, you are kind of infallible. People look up to you and you struggle with that."]
["I hate surprises. If you don't know, tell me—it's not a problem."]
["I’ve done a number of commercial deals by saying no 10 times until it becomes yes."]
Key Takeaways
Admit Your Limitations Early: The most dangerous leaders are those who "wing it." Admitting you don't know something builds trust and allows you to seek expert advice to make better decisions.
The Reputation of an Exit: Even in a crisis, managing a transition professionally (as Dan did with Betfair) preserves long-term industry reputation, which is more valuable than any single deal.
Stop Trying to Get 100% Alignment: Use the 50/25/25 framework: 50% are with you, 25% go with the flow, and 25% focus on themselves. As long as they aren't disruptive, focus on moving the 75% forward.
Hire for the Pivot: In a fast-moving industry like iGaming, you need a mix of people who can handle sudden strategic shifts (e.g., Flash to HTML5) without dragging their heels.
The Strength of Non-Creativity: Recognising you are an "operator" rather than a "visionary" allows you to surround yourself with the right creative mix to balance the business.
Important Links
Follow Dan Phillips on LinkedIn: https://www.linkedin.com/in/dan-phillips-nel/
Follow Leo Judkins on LinkedIn: https://www.linkedin.com/in/leo-judkins/
Subscribe to the iGaming Leader newsletter: https://www.igamingleader.com/signup
Join the iGaming Leader Mastermind: https://www.igamingleader.com/

This episode is sponsored by Sumsub, the leading identity verification provider for iGaming operators. Learn more at https://sumsub.com/blog/knowledge-hub/gambling/

In this episode of the iGaming Leader Podcast, Leo sits down with Daniel Graetzer, the former CEO and Founder of MaximBet and Carousel Group. 
Dan shares a raw, unfiltered account of the "tumbleweed effect" that comes with rapid scaling, eye-watering valuations, and the immense pressure of managing a high-profile brand in the US market.
The conversation explores the "staring into the abyss" reality of leadership, the critical distinction between Founder Mode and Manager Mode, and the high price of isolation. 
Guest Bio

Daniel Graetzer has spent the past two decades working across the full company journey, from building and scaling businesses to transactions, restructurings and exits, across tech, AI, iGaming and digital media. 
Over that time, he has led strategy, M&A, commercial growth and international expansion across Europe, the US, LatAm and Australia. 
He has worked with founders, operators and investors through growth phases, complex deals and high-pressure strategic decisions. 
Today, his focus is on advisory work, investing and supporting early-stage companies.
Key Topics Discussed

00:00 - Raising money is just the start, not the celebration
04:00 - Sustainable High Performance
07:30 - Burnout and the "too little, too late" reality check
10:30 - Pivot to MaximBet and Nicki Minaj
14:00 - The $250M valuation that felt like a "momentum trap"
17:30 - Bullishness vs. Kidding Yourself
22:00 - How stress clouds strategic lateral thinking
26:00 - Empathy vs. Sympathy in the executive suite
30:00 - Stoicism and Values
34:00 - Mindfulness for High Performers
39:00 - Founder Mode vs. Manager Mode
Memorable Quotes

"I don't think people should celebrate raising money... it's actually just the start of the next step."
"Owning a business is like staring into the abyss while eating glass."
"The train just kept getting bigger... the stakes were bigger... and at some point the macro started really going against the growth story."
"Founder mode says: results over process any day of the week."
"Mindfulness has had a really bad CMO."
Key Takeaways
Raising Money is a Responsibility, Not a Win: Celebrating a fundraise can distract from the fact that anxiety and investor demands start the moment the cheque is cut.
Founder Mode vs. Manager Mode: The traditional MBA paradigm of "hiring good people and getting out of the way" can be fatal for early-stage companies; founders must stay close to the truth of the business.
The High Cost of Isolation: High-performers often avoid burdening family or friends with complex corporate problems, making professional support and mastermind groups essential.
Reframing Mindfulness: Tools like breathing exercises and journaling shouldn't be seen as ways to "disconnect," but as biological "power-ups" to sustain elite executive performance.
Decision Quality Erosion: Chronic stress narrows a leader's perspective into binary choices; maintaining a "cool head" is a requirement for creative, lateral problem-solving.

Follow Daniel Graetzer:

https://www.linkedin.com/in/graetzer/

https://newtonlorenz.com/

Follow Leo Judkins on LinkedIn: https://www.linkedin.com/in/leo-judkins/

Subscribe to the iGaming Leader newsletter: https://www.igamingleader.com/signup

Join the iGaming Leader Mastermind: https://www.igamingleader.com/
This episode is sponsored by Sumsub, the leading identity verification provider for iGaming operators. Learn more at https://sumsub.com/blog/knowledge-hub/gambling/

In this episode of the iGaming Leader Podcast, Leo sits down with Line Peteri, a powerhouse leader who has scaled teams across tech, fashion, and iGaming. 
Line shares her raw, unfiltered journey of building a career since age 17, only to be reduced by others to her appearance, her relationships, and her health.
She calls out the "fake bullshit" in the industry, discusses the isolation of being a high-achieving woman in her 20s, and explains why she refuses to compromise her values for a title.
Guest Bio

Line Peteri is VP - Strategic Partnerships at ATFX, operating at the intersection of performance, regulation, and global expansion in the financial trading industry. With a background in scaling brands, including co founding and growing roccamore, she brings a commercial, data driven approach to leadership and customer acquisition. Alongside her corporate role, she advises start ups on growth strategy and sustainable performance. A HYROX endurance athlete and cancer survivor, Line speaks on resilience, high performance mindset, and leading with clarity under pressure.
Key Topics Discussed
00:00 – Line calls out all the BS on Linkedin
05:30 – Being known as "the girlfriend" despite a 10-year career.
10:00 – Being dismissed at business school.
11:30 – Incurable Cancer diagnosis at age 30
14:00 – A 7-minute run led to a half-marathon and a shoe company.
16:00 – Why very little can throw Line off her game now.
19:00 – Line hires people to eventually replace her.
21:00 – Resigning when the company wouldn't allow her to protect her team.
25:30 – The Political Gap: being liked by your team isn't enough.
28:00 – Fluff and BS
33:00 – Why Line refuses to accept "Female Leader" awards.
35:00 – Advice to her 20s: "Don't give a fuck" and stop trying to blend in with the furniture.
Memorable Quotes
"I can survive cancer, I can survive anything. Even when I meet an asshole... I just think: you could just fuck off."
"I am very honest and I'm very direct... I don't really filter things. I think there's a lot of fake things going on."
"The more you begin to compromise your values, the less they become."
"If you wanna blend in with the furniture, yes, that’s what you can do. But you know what? Show yourself."
"Everything you learn, you learn on the way down."

Follow Line on LinkedIn: https://www.linkedin.com/in/linepeteri/

Follow Leo on LinkedIn: https://www.linkedin.com/in/leo-judkins/

Subscribe to the iGaming Leader newsletter: https://www.igamingleader.com/signup

Join the iGaming Leader Mastermind: https://www.igamingleader.com/

This episode is sponsored by Sumsub, the leading identity verification provider for iGaming operators. Learn more at https://sumsub.com/blog/knowledge-hub/gambling/

In this episode of the iGaming Leader Podcast, Leo Judkins sits down with Ebbe Groes, the co-founder and CEO of EveryMatrix. From a garage in 2008 to building the world’s largest casino aggregation platform, Ebbe has navigated the brutal realities of scaling a B2B giant without the "fuel" of massive venture capital.
Ebbe shares the high-stakes decisions of EveryMatrix’s "survival" era between 2015 and 2017, where the company nearly ran out of cash and the team took massive salary cuts to keep the dream alive. 
He pulls back the curtain on why he ringing a literal bell in meetings to keep efficiency high, the "law of large numbers" that makes VCs dangerous for founders, and why his recent decision to bring his brother in as co-CEO is about building a multigenerational legacy.
GUEST BIO

Co-founder & CEO, EveryMatrix

Ebbe Groes is a seasoned technology entrepreneur with a PhD in Economics and a proven track record of scaling software startups. Since co-founding EveryMatrix in 2008, he has transformed a bootstrapped venture into a leading global B2B iGaming provider that remains debt-free and founder-controlled. With nearly two decades of experience in the sector, Ebbe is known for his sharp commercial focus on tier-one clients and his commitment to maintaining product agility through modular, independent business units.
Key Topics Discussed
00:00 – The VC calculation: Why investors push 60% of companies "down the drain"
02:00 – From garage to global giant: The EveryMatrix origin story
04:00 – Founder-led advantages: Fast decision-making vs. board bureaucracy
06:30 – Identifying bottlenecks: your Outlook calendar is your best leadership gauge
09:00 – The 2015–2017 crisis and nearly running  out of cash
4:30 – Swapping salaries for equity during the lean years
20:00 – Why EveryMatrix only raised $4.3M in 18 years
25:00 – Watching your business dreams get taken by VCs
28:00 – The luxury of "No": Segmenting clients into Gold, Silver, and Bronze
32:30 – Co-CEO Strategy: Bringing in family to build a 100-year business
37:00 – "Chop, Chop": Removing people who aren't in the fight with you
Memorable Quotes
"The key thing to understand about VCs is that they do their calculations on large numbers... they're going to push and accelerate to see if you belong to the 60% that go down the drain."
"Suddenly the founders... their dreams are shut to pieces and they own 10% of the company. There's nothing fun about it. You feel then cheated from your own dreams."
"It's important that you surround yourself with also people that think like you and you don't feel, 'oh, I'm alone in fighting this battle.'"
"If there's some founder in a similar situation... and he feels that some people are not with him... then, you know, here's your chance to get rid of them... So chop, chop."

Key Takeaways

The "Fuel" Trap: Venture capital often accelerates a company toward a "hit or fail" binary outcome. Founders who take too many rounds often end up as "passengers" in a company they no longer own or recognise.
Modular Agility: Splitting a large organisation into independent business units with their own P&Ls prevents management bottlenecks and allows each product to compete as a specialist in the market.
Transparency in Crisis: During the 2015 cash crunch, EveryMatrix survived by being radical about cost-cutting and transparent with staff, eventually converting reduced salaries into high-value equity.
The Power of "No": Taking the wrong clients creates "opportunity cost" and disrupts your roadmap. Segmenting clients and being willing to cut off distracting revenue streams is essential for long-term scalability.
Succession as Legacy: Bringing in a Co-CEO isn't just about bandwidth; it's about shifting from a "trade sale" mindset to a multi-generational, family-owned philosophy that preserves the company’s DNA.

Follow Ebbe Groes on LinkedIn: https://www.linkedin.com/in/ebbe-groes/
Follow Leo Judkins on LinkedIn: https://www.linkedin.com/in/leo-judkins/
Subscribe to the iGaming Leader newsletter: https://www.igamingleader.com/signup
Join the iGaming Leader Mastermind: https://www.igamingleader.com/

In this episode of the iGaming Leader Podcast, Leo sits down with Charles Cohen, a serial entrepreneur who has experienced the industry's highest peaks and most isolating moments. 
From building beenz.com, one of the internet’s first digital currencies, to pioneering mobile-first gaming with Probability plc, Charles shares the raw reality of leadership when the "arc of the universe" refuses to bend to your will.
Charles reflects on the "seasickness" of the .com bubble burst, where a $300 million valuation evaporated almost overnight, and the discipline required to stick to a "mobile-only" strategy when the rest of the industry was laughing at the idea. 
Now leading the Department of Trust, he discusses the evolution of player safety and why the most valuable lessons in a career are almost always learned on the way down.
GUEST BIO
Charles Cohen
Founder & CEO, Department of Trust / NED Veikkaus
Charles Cohen is a veteran technology entrepreneur who has founded, listed, and exited major businesses in both the UK and US. An Oxford PPE graduate, he rose to prominence as the founder of beenz.com before becoming the CEO of Probability plc, the pioneer of mobile-centric gambling games. 
Following Probability's acquisition by GTECH (now IGT), Charles spent nearly seven years as Vice President, leading global mobile and US sports betting expansion. Currently, he leads the Department of Trust, sits on the board of Veikkaus Oy, and serves on the UK Gambling Commission Industry Forum.
Key topics discussed
00:00 – You can’t negotiate with reality: Adapting or walking away.
03:00 – Realising a $300M valuation no longer applies.
09:00 – The Founder’s Trap: Being a passenger on your own train.
11:00 – Closing offices and returning value honorably.
16:00 – Why Charles resisted the "regular website" for Probability.
19:00 – Mailing physical checks in the early days of mobile.
24:00 – Every employee is taking a risk on your company.
33:00 – Why selling a business is the most stressful period.
37:00 – The PASPA Repeal: Being in the right place at the right time.
44:00 – Compliance & Automation: Where manual processes go to die.
48:00 – Why you should always have more questions than answers.
Key takeaways
Learn on the Downward Trend: Success masks inefficiency. True learning and organisational discipline are forged during downturns and failures rather than during rapid growth.
Don't Finesse the Inevitable: When a paradigm shift occurs—like a market bubble bursting—leaders must accept and adapt immediately. There is no room for denial or finessing a fundamental change in reality.
The Discipline of Specialism: Real value is built by doing something different, not by being a "different version" of what everyone else is doing. Sticking to a "mobile-first" bet when desktop was king created long-term enterprise value.
Identity vs. Momentum: High-growth startups can turn founders into "passengers on their own train." It is essential to maintain a rational perspective when behavior starts to be influenced by metrics like "fundraising" rather than core business health.
Systems Over People in Compliance: Regulatory failure is often a system failure, not a people failure. Overburdened and under-equipped departments require better data and systems (like Open Banking) to make risk-based judgments effectively.
Memorable quotes
"There's no room for denial, you can't negotiate with it... You've either got to accept it and adapt to it, or get out and walk away."
"The lesson that I took out of it ultimately is: you don't learn anything on the way up. Everything you learn, you learn on the way down."
"All this Silicon Valley horse shit about defining the future... You can not bend the arc of the universe."
"What's a couple hundred million between friends?"
Follow Charles Cohen on Linkedin:
https://www.linkedin.com/in/cohencharles/
Follow Leo Judkins & iGaming Leader
LinkedIn: https://www.linkedin.com/in/leo-judkins/
Newsletter: https://www.igamingleader.com/subscribe
Join the Mastermind: https://www.igamingleader.com/apply

This episode is sponsored by Sumsub, the leading identity verification provider for iGaming operators. Learn more at https://sumsub.com/blog/knowledge-hub/gambling/