Betfred will remain as title sponsors of the Betfred World Matchplay until at least the end of the 2025 event under a new three-year extension to their partnership with the PDC.
The leading bookmaker initially linked up with the PDC's summer spectacular in 2019, and will now enjoy at least seven years as title sponsor of the Blackpool event under the new agreement.
The three-year extension was confirmed ahead of Sunday's Betfred World Matchplay final between Gerwyn Price and Michael van Gerwen, which will bring to a close a hugely successful nine days at the Winter Gardens.
"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," said Betfred boss Fred Done.
"The Betfred World Matchplay is one of my favourite sporting events each year and the 2022 event has been a wonderful championship.
"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 and we're already looking forward to 2023 and beyond."
The Betfred World Matchplay has been accompanied this year by the inaugural Betfred Women's World Matchplay, which was played on Sunday afternoon and won by Fallon Sherrock.
Over 20,000 fans have packed the Winter Gardens throughout the nine days of action, while the event has also enjoyed worldwide television coverage, featured a record total of 180s and a nine-dart finish by Price in Saturday's semi-finals.
"The announcement of our new agreement with Betfred is a great way to end a memorable week," said PDC Chief Executive Matt Porter.
"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."
The 2023 Betfred World Matchplay will be staged from July 15-23 at the Winter Gardens in Blackpool, with the Betfred Women's World Matchplay taking place on Sunday July 23.