Betfred will remain as title sponsor of the World Matchplay and Women's World Matchplay until at least 2030 after extending their partnership with the PDC.
The new contract will extend their association with the summer's biggest event beyond a decade, and has been confirmed on the eve of the 2025 tournament, which begins in Blackpool on Saturday.
The Betfred World Matchplay has been accompanied by the Betfred Women's World Matchplay since 2022, with the fourth staging set to take place on Sunday July 27 as Beau Greaves defends her title.
The Betfred World Matchplay will see world number one Luke Humphries defending his title amongst a stellar 32-player field, with his rivals including six other former Winter Gardens champions and World Champion Luke Littler.
Betfred boss Fred Done said: "The Betfred World Matchplay is one of the highlights of the year - I love the seaside party atmosphere coupled with top quality sport.
"We're delighted to extend our sponsorship with the PDC for another five years, during an exciting period for darts as a sport.
"The quality of the field has never been stronger, and we can only see these tournaments continuing to grow in the coming years."
Prize money for the Betfred World Matchplay will increase to £1 million in 2026, including £225,000 to the eventual champion, while the Betfred Women's World Matchplay prize fund will rise to £40,000.
"Betfred have become synonymous with the World Matchplay since joining us as title sponsor in 2019, and it's wonderful that they've extended that support for a further five years," said PDC Chief Executive Matt Porter.
"Their backing of the Betfred Women's World Matchplay echoes their commitment to the sport, and we're excited that prize money for both events will increase from 2026.
"This year's Betfred World Matchplay sold out in record time following the huge success of our 2024 tournament, and we can't wait to get back to Blackpool alongside Betfred next week."
World Champion Luke Littler is Betfred's pre-tournament favourite to lift the Phil Taylor Trophy on Sunday July 27, while Beau Greaves is odds-on favourite to win a third successive Women's World Matchplay title next Sunday.