From financial markets to steering one of the most impactful strategic acquisitions in the iGaming industry, Savo Bakmaz’s journey is nothing short of remarkable. As the CEO of MaxBet, he has led the company through a transformative chapter, culminating in a landmark deal with Flutter.
Savo Bakmaz answers SBC Eurasia’s 10 questions about vision, transformation, and leading boldly in iGaming.
– What was your first job, and what led you to pursue a career in the iGaming industry?
– My career began in finance – first in asset management, then in insurance. Those roles gave me a solid grasp of financial markets, risk management, and strategic investment. In asset management, I learned to make data-driven decisions; in insurance, how to balance growth with long-term stability.
Although those experiences shaped my analytical and strategic thinking, I was drawn to an industry that offered more dynamism and immediate impact. That led me to iGaming.
When I joined MaxBet, I saw an industry in fast-paced transformation—from traditional retail to digital, data-centric entertainment. I was inspired by the speed of change, the innovation, and the potential to build something meaningful. iGaming uniquely blends finance, technology, regulation, and customer experience—few industries offer that mix. Once I stepped into it, I realized the opportunities were even greater than I had imagined. It’s a space where bold strategies and strong leadership can make a real difference.
– What was the single biggest turning point in your career?
– Without question, it was taking on the CEO role at MaxBet and leading the acquisition deal with Flutter. That moment meant stepping beyond management to shaping the company’s future. It required tough decisions, leadership restructuring, and navigating the complexity of an M&A process.
Partnering with a global player like Flutter brought risk—but also immense opportunity. I knew that if we executed well, it could reshape not just MaxBet, but the entire Balkan iGaming market. That step truly redefined my career and expanded the impact I could have on the industry.
– What have been the biggest challenges you’ve faced in your career, and how did you overcome them?
– Leading MaxBet through a period of complete transformation while maintaining growth and innovation was one of the biggest challenges in my career. The M&A process itself was complex—due diligence, negotiations, and cultural alignment—all while we had to keep improving our products, building a strong team, and delivering consistent results.
What made the difference was having the right leadership in place, ensuring clear and consistent communication both internally and externally, and staying fully focused on our goals. Major transitions can easily become a distraction, but our commitment to execution kept us on course and made us stronger. In the end, challenges are often just opportunities in disguise—and when approached the right way, they become the moments that define your journey.
– Who has been the key mentor in your career, and what is the best piece of advice you ever received?
– I’ve had the chance to work with exceptional leaders, but one piece of advice really shaped my approach: “Great leaders don’t need all the answers, but they do need to ask the right questions.”
Earlier in my career, I believed success meant knowing everything. Later, I realized leadership is about empowering others, asking thought-provoking questions, and creating space for innovation. I focus on the big picture—setting direction, challenging assumptions, and keeping the organization agile.
– What advice would you offer to those just beginning their journey in the industry?
– Be adaptable. iGaming is fast-moving—what works today might not work tomorrow. Success comes to those who stay curious, embrace change, and aren’t afraid to take smart risks.
Also, go beyond numbers. Understand the players, the tech, and the regulatory environment. This business is about building experiences and trust, not just revenue. Those who get that will stay ahead.
– What are the biggest changes you’ve witnessed in iGaming, and where do you think the industry is heading next?
– The shift from retail to digital has been dramatic. Today, iGaming is an omnichannel experience, powered by data, AI, and personalization. Regulation has also become a central factor in how we operate and engage with players.
Looking ahead, I see three major trends:
- Hyper-personalized gaming through AI;
- Stronger focus on responsible gaming and sustainability;
- Market consolidation through continued M&A.
Operators who can innovate while maintaining ethical responsibility will shape the future of this industry.
– Do you have a personal mantra or philosophy that guides your professional decisions?
– “Think big, act bold, stay humble.”
To accomplish great things, you have to take bold steps. But humility—listening, learning, surrounding yourself with great people—is equally important. That balance drives sustainable success.
– What accomplishment in your career are you most proud of?
– One of the most significant milestones in my career has been the successful transformation of MaxBet and the execution of a strategic partnership with Flutter, which positioned the company as a key player in the Balkan iGaming market. This wasn’t just a business transaction—it was a clear validation of the vision, strategy, and execution that had been carefully developed and implemented over the years.
Additionally, being recognized as Best CFO in Serbia in 2023 served as a strong acknowledgement of that achievement and the impact it had on both the company and the industry. However, beyond titles and transactions, the true value lies in the tangible progress we’ve made—advancing our business, creating growth opportunities for people within the organization, and contributing to the development of the iGaming sector in the region.
– How do you stay inspired and maintain your creativity amidst the industry’s rapid evolution?
– Curiosity keeps me inspired. I often step back from day-to-day operations to explore broader trends—what’s happening in other sectors, how consumer behavior is changing, what tech is emerging.
I also draw inspiration from people—my team, peers, even players. Innovation doesn’t happen in isolation—it comes from constant engagement with the world around you.
– Looking back, is there anything you would have done differently in your career?
– If I could go back, I would have taken certain bold steps even earlier. At times, I waited for perfect conditions instead of moving forward. But I’ve learned that perfection is an illusion—if the vision is clear and the team is strong, you move.
That said, every decision, even missteps, brought lessons. I don’t believe in regrets—only in learning, evolving, and progressing with confidence.
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