Betfred, the UK-based betting company, has extended its deal with the Professional Darts Corporation (PDC) body, through which it holds title sponsorship rights to the World Matchplay tournament, until 2025.

The bookmaker initially became the title sponsor of the event, which takes place in Blackpool, UK, annually in July, in November 2018. That deal was then renewed until the end of this year's event in July 2020.

The new extension will take the length of the relationship between the two to at least seven years.

The deal was confirmed ahead of the 2022 World Matchplay final between Gerwyn Price and Michael van Gerwen over the weekend.

Matt Porter, chief executive of the PDC, said: “Betfred have enjoyed huge exposure over the past four years with their sponsorship of the World Matchplay and we're delighted to continue to work with them for at least the next three years."

Fred Done, head of Betfred, added: "Our sponsorship of the Betfred World Matchplay has been a brilliant success for the past four years and I'm delighted that we'll be working with the PDC until at least 2025 … You can see from the superb standard of the players and the brilliant, sell-out crowds in Blackpool just how much this tournament means to everyone …”

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The 2023 Betfred World Matchplay tournament will run from July 15 to July 23 at the Winter Gardens venue in Blackpool.

This year, the event was accompanied by an inaugural Women’s World Matchplay tournament, which took place on July 24.

The PDC has now confirmed that the latter tournament will be held once again in 2023 and has also said that the PDC Women’s Series will expand to 24 events next year.

The Women’s World Matchplay will again be an eight-player event, and the PDC has also increased its financial commitment to the women’s side of the sport for next year, by pledging £145,000 ($174,467) in total prize money.

The Women’s Series will expand to 24 events across six weekends in 2023, with each of those tournaments worth £5,000 in prize money.

The Women’s Series will receive live coverage from the in-house PDCTV streaming service.

The next two Women’s Series events will be held in German on August 27 and 28.

Porter added: "With players also competing in the Cazoo Grand Slam of Darts and Cazoo World Championship, the opportunities for women within the PDC have never been greater and it's a boost that we can continue to grow this aspect of the sport in 2023.”