Irish online gaming operator BetBright has agreed a sponsorship deal with Cheltenham Racecourse for four races taking place on New Year's Day.

BetBright will sponsor the feature Grade Three £50,000 BetBright Best For Festival Betting Handicap Chase, the £20,000 BetBright On Mobile Handicap Chase, the Grade Two £32,000 BetBright Novices' Chase, and the three-mile £20,000 BetBright Casino Handicap Hurdle.

 BetBright's marketing director Brian Farrell commented: “We are delighted with our relationship with Cheltenham, and it is great to team up with one of the finest race tracks in the UK. Our New Year's Day event is just the start of a series of exciting racing initiatives in the first quarter of 2015.

“The sponsorships will not only promote BetBright but also put something back into the sport we all love and help reward racing fans and punters with a series of bright, thrilling, fun promotions.”

Farrell said that BetBright saw a record number of depositing customers during 2014, with results boosted by a “large” increase in horse racing turnover and “very encouraging” active player levels.

"This trend seems set to continue into 2015 as BetBright develops its racing offering and enters into even more high-profile marketing partnerships,” Farrell added.

Carey Buckler, regional sponsorship manager for Jockey Club Racecourses South West, which has responsibility for Cheltenham and other racecourses, said: “We are delighted to welcome BetBright to sponsorship at Cheltenham Racecourse and look forward to an exciting day of racing on New Year's Day.

“BetBright's backing of four races on the day is a great start at Cheltenham to what will hopefully be a long relationship with Jockey Club Racecourses.”