The partnerships with the two clubs will last until at least June 2023.
The operator has worked with TSG Hoffenheim since 2017 on several advertising and marketing campaigns, including on social media where fans could win a place on the official team photo by using #DEINWEGINSTEAM.
The extension will include similar services, including two large static TV advertising presences, a mini banner and LED advertising.
Interwetten’s partnership with 2009 Bundesliga champions Vfl Wolfsburg started in July 2019 and will be expanded to include digital services, live data integration on the video wall and branding in front of team dugouts.
Interwetten Speaker of the Board (CEO) Dominik Beier said: "We have been a reliable partner of sport for 30 years now - we need sport as a business basis and sport has been counting on us as a partner and sponsor for years.
"With both clubs, TSG and VfL, we want to celebrate success, learn from each other and develop together. We are very happy about the extensions."
In January, Interwetten posted gross gaming revenue growth of 25% year-on-year for 2019, up to a company record €99.5m ($111.5m).