The Welsh Open will be sponsored by Totesport.com in the latest positive move for the sport under Barry Hearn's chairmanship of the WPBSA.
The tournament has not been sponsored since 2003 when Regal were forced out through the UK government's anti-tobacco legislation.
“This is a further boost for snooker and it proves we are definitely moving in the right direction for our sport," Hearn said.
"Having Totesport.com, one of the biggest betting brands in the World, sponsor the Welsh Open demonstrates the appeal of snooker. We’ve now got sponsors on board for four of our five UK tournaments and I’m sure that there are more to come.
"We look forward to working closely with the team at Totesport.com to make this tournament a great success.”
Trevor Beaumont, Chief Executive of Totesport said: “We are delighted to again be associated with World Snooker after a break of 5 years. As one of the premier tournaments in the calendar the totesport.com Welsh Open is a great opportunity for us to remind our audience of customers that totesport.com is relevant for them across all major sports betting events.”
Hopefully this new deal will give the Welsh Open a bit of a lift because it currently seems to be regarded as the poor relation of the world ranking circuit.
Ali Carter starts his title defence next Monday and the tournament will be broadcast on BBC Wales and Eurosport.