Q&A with Dmitry Belianin, Blask: From Boardrooms to Bold Bets in iGaming

In an industry often defined by its relentless pace and rigid playbooks, Dmitry Belianin stands out not just for his impressive tenure but for his unapologetic drive to disrupt the status quo. After more than 17 years shaping marketing strategies for some of the biggest names in iGaming, Dmitry didn’t just pivot - he redefined his trajectory. Leaving the polished corridors of a Tier 1 operator behind, he launched his own investment firm at the start of 2024, trading boardroom predictability for the thrilling unpredictability of start-up ecosystems.

But Dmitry isn’t just another ex-CMO turned investor. His philosophy blends data-driven precision with a punk mentality, challenging industry conventions with a candidness rarely seen in corporate circles. Whether he’s sharing unfiltered insights on LinkedIn or identifying the next big player outside the glare of US-centric investments, Dmitry operates on instinct sharpened by experience.

In this Q&A, WarriorLab 's CEO and Co-Founder, Gali Hartuv , unpacks this journey to feed into the broader implications for the shifting role of investors in an industry defined by rapid consolidation. From Dmitry's bold new ideas for high-growth iGaming businesses like Blask and Already Media to the strategies that fuel success when transitioning from corporate boardrooms to scrappy start-ups, the following discussion offers a candid exploration of what it takes to thrive where adaptability is the ultimate currency.

Gali: You left a position as CMO of a Tier 1 operator to move into running your own investment company. What prompted the switch?

Dmitry: Well, more than anything I like to keep things exciting! Sure, it can be a comfortable life at the top of a huge, multinational operator. I enjoyed every moment of the challenge. But that’s the thing with challenges, sometimes you need something new to keep yourself on your toes.

Over the best part of the last 20 years, I’ve worked just about every role you can in iGaming. Affiliate, supplier, operator. I’ve seen it all.

So investing was a logical next step. It’s something that’s both new to me, but also an area where all my previous experience is very relevant. That was important for me.

Gali: Investing in iGaming start-ups is now a competitive pursuit. Where do you find an edge?

Dmitry: You are right to say it is competitive. But it is also quite fragmented right now.

If you look back 10 years, it could be hard to attract investment from outside the iGaming sector. The introduction of regulated online gambling in the US has changed that.

But at the same time, that’s drawn a lot of the attention (and money) to the US. There are fantastic iGaming businesses doing extremely innovative things outside of the US, and these are the start-ups we have our eyes on.

It’s that old Wayne Gretzy adage about skating to where the puck is going to be. That’s where we can find an edge.

Gali: From a personal perspective, how has your day-to-day life changed since you moved into investing?

Dmitry: It’s certainly more unpredictable.

When working as a CMO, I had very clear goals as well as metrics via which to measure success. I’m a data guy, so that was very comforting for me. I’m not afraid to admit it can be kinda scary to tear that up and move into a world where success is far harder to define.

Of course, I want all the start-ups and businesses I’m involved in to succeed. But especially in the earlier stages, understanding what success means and how to get there can be quite an abstract process.

All this means my day-to-day life is always exciting. I might be recording a podcast, firefighting a crisis, interviewing a new potential hire and planning a product roadmap all in the space of a few hours. Autopilot is absolutely not an option.

Gali: How valuable is having an online presence and personal brand in your line of business, and how do you cultivate it?

Dmitry: Like WarriorLab, we have a well-established presence on LinkedIn. We’re a relatively small industry, aren’t we? It sometimes feels like everyone knows everyone, so having that network where you can get a trusted introduction to just about anyone in the sector is really important.

I only have two rules when I put out content on LinkedIn (or elsewhere). Firstly, be myself. I made a decision to put myself out there more a couple of years back, and an important part of that is being genuine. No bullsh*t.

Secondly, add value. Our industry has a tendency toward secrecy. People want to guard what they know. I don’t really believe in that. Knowledge can’t be effectively gatekept. I’d rather share mine (even when it is hard-earned). It’s better for all of us. This isn’t a zero-sum game.

Gali: Given your past as a CMO, what’s catching your eye from a branding and marketing perspective in our industry right now?

Dmitry: There’s now a very clear divide between regulated and emerging markets.

Regulated markets are increasingly limiting what brands can do from a marketing perspective. That covers everything from advertising to bonuses.

As a result, we’re seeing more innovative stuff in emerging markets. Look at the rapid growth of some of the crypto-led operators, particularly Stake.com and Rollbit, over the last couple of years. They’ve been bold and built really distinct brands, achieving scale to now begin to enter some of these regulated markets and challenge incumbents.

Gali: What qualities or criteria do you look for in an iGaming startup before deciding to invest? Are there any specific types of businesses or niches within the industry that particularly excite you right now?

Dmitry: This is actually a really tough question to answer.

Sure, I could give you a generic response about looking for obsessed founders, game-changing innovation, product market fit, etc.

In reality, I look for two things. A founder/team that understands a problem and has a clear vision of how they’ll fix it. And then that more abstract ‘a-ha’ moment, where you feel in your gut that this is a start-up that’s going somewhere.

It is genuinely difficult to quantify that feeling, and I’ve only had it a couple of times (for the data-driven market intelligence ecosystem Blask, and the media company Already Media).?

So far, my gut hasn’t been wrong, so I’m going to keep trusting it!

Gali: Looking ahead to 2025, what trends will define iGaming during the next 12 months?

Dmitry: Emerging markets transitioning into regulated markets, and all the fallout, winners, and losers from that process.

Brazil was set to make that move on January 1, so we were straight into the action in 2025.

It’s going to be a really interesting battle between Tier 1, multinational operators, and local brands who have that depth of local knowledge to compete. We’re going to see the same process play out all over the world over the coming years, so watching how things pan out in Brazil is going to be extremely informative. It could well define the next decade in global iGaming.

Dmitry Belianin ’s insights reveal that success isn’t about clinging to established playbooks but embracing the discomfort of the unknown, trusting both data and instinct, and staying bold when others play it safe.

As markets regulate, competition intensifies, and innovation accelerates, the role of investors isn’t just to fund growth but to challenge conventions and spot opportunities others overlook.

But as the lines between operators, suppliers, and investors continue to blur, it begs the question:

As the industry evolves at breakneck speed, will the next wave of iGaming giants be built on disruptive ideas - or the relentless drive to outlast the competition?

Disclaimer: The VIP Topics, Opinions, and Insights presented in this Q&A series are intended to highlight individual knowledge and personal opinions. They do not represent the views or opinions of Gali's Guide or WarriorLab . The questions and answers are designed to stimulate discussion and debate within the context of our Q&A sessions. It is important to note that the responses provided here are not to be considered professional advice or endorsements by Gali's Guide or WarriorLab. Before making any decisions related to the Q&A discussion topic, it is advisable to seek guidance from qualified experts or professionals who can provide tailored recommendations based on your specific circumstances. These discussions are for informational, discussion, and debate purposes only.