Ronnie O'Sullivan claimed his third world title with victory last year

The World Snooker Championship has received a financial boost after online bookmakers Betfred.com were unveiled as the tournament's new official sponsor.

They have agreed a four-year deal to back the Crucible event until 2012.

Previous sponsors 888.com withdrew their backing in 2008, two years before their five-year deal was due to end.

"We are extremely pleased to have entered into a long-term partnership with Betfred.com," said World Snooker chairman Sir Rodney Walker.

"The fact that we have been able to secure a four-year agreement within the current economic climate is testament to the popularity of snooker, in the UK and internationally."

This year's World Championship gets under way in Sheffield on Saturday 18 April.

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