Online gaming operator Betway has become the new sponsor of the Queen Mother Champion Chase, one the highlights of The Festival at Cheltenham Racecourse.

Betway will be backing the feature race of Ladies’ Day, which takes place on day two of The Festival next March, for the next three years.

The Grade One chase, run over two miles and thirteen fences, was this year won by Sire De Grugy. The Betway Queen Mother Champion Chase takes place next year on Wednesday March 11th 2015.

Ian Renton, managing director of Cheltenham Racecourse, said he was “delighted” to welcome Betway to Cheltenham as the sponsor of the Queen Mother Champion Chase for the next three years.

“This is Betway’s first venture into race sponsorship and it is great news that they have chosen to work with us at Cheltenham on such a high-profile race. I’m sure Betway will really enjoy the experience, as well as find it hugely rewarding in regards to brand exposure.”

Bob Dutnall, executive director at Betway, similarly expressed delight at being able to sponsor a race as “prestigious” as the Queen Mother Champion Chase.

“Betway is the fastest growing brand in the global gaming industry and we already have exciting plans in place with Cheltenham racecourse that will allow visitors to the Festival to get to know us a little better,” said Dutnall.

Betway secured its first major sporting event sponsorship earlier this year as title sponsor of the 2014 Premier League Darts tournament.

The Festival at Cheltenham is one of the highlights of the British racing calendar. Among national hunt races, the final-day Cheltenham Gold Cup is second only to the Grand National in terms of prize-money and prestige.