GVC Holdings' leading sports betting brand bwin has been named the official sponsor of the Grand Slam of Darts, one of the flagship events of the the sport's annual calendar.

The operator has signed a two-year deal with the Professional Darts Corporation (PDC) which will see it replace Singha Beer as the event's main backer, having previously served as its official betting partner between 2014 and 2015.

First launched in 2007, the event sees 32 players from the PDC and British Darts Organisation (BDO) systems compete in a nine-day tournament. This year's edition will take place between November 11th and 19th in the English city of Wolverhampton.

The current Grand Slam champion is Dutchman Michael van Gerwen, who has won the last two events, with darts legends such as Phil Taylor, Scott Waites and Raymond van Barneveld winning in previous years.

"It's great to welcome bwin as the new title sponsor for the bwin Grand Slam of Darts," PDC chairman Barry Hearn said. "Their previous sponsorship of the World Cup of Darts came at a time of huge growth for that event in Germany in 2014 and 2015.

"Their backing of the Grand Slam of Darts will not only showcase the brand across nine days of fantastic darts in Wolverhampton, but provides worldwide exposure through Sky Sports and our international broadcast partners."

bwin chief marketing officer Adam Lewis said: "We're delighted to become the title sponsor of the bwin Grand Slam of Darts. It is a huge tournament that continues to grow in popularity every year, with an ever-increasing international reach.

"Darts is enjoying a huge boom and it's great for us to link up once again with the PDC to sponsor this prestigious tournament."

The prize pool for the event is to be increased to £450,000 for this year’s competition, with the first prize kitty now up to £110,000.

Until recently, the event was previously been supported by UK bookmakers, with William Hill serving as title sponsor between 2011 and 2013. The company was replaced by 666bet as the event's official betting partner in 2014, when Singha Beer took over title sponsorship, only for the operator to go out of business a year later. This led to bwin stepping in as the event's betting partner in 2014 and 2015.