As reported by Sky Sports, the new agreement between Sky Bet and EFL represents a 20% year-on-year increase from 2019/20 on the current deal and will see the working relationship extended to 11 years.
As part of the partnership, Sky Bet will also be launching its responsible gambling marketing campaign featuring a film with the message that "nothing should get in the way of our enjoyment of sport, definitely not betting".
The film will also feature Sky Sports presenter Jeff Stelling and will be shown during Sky Sports' Premier League and EFL Championship coverage this weekend
Richard Flint, chief executive of Sky betting and gaming, said: "We're delighted to sign this new deal with the EFL and believe the additional focus we and the League are both placing on responsible gambling will show that well run betting operators can play an active part in raising awareness of problem gambling.
"By using our sponsorship and marketing capabilities to highlight how customers can gamble safely we hope to ensure that nothing gets in the way of people's enjoyment of sport, definitely not betting."