Real Madrid have announced an extension to their sponsorship deal with betting company Codere until the end of the 2020/21 season, reports, www.sportspromedia.com/.

The Spanish gambling firm has been the club's official betting partner since 2016, providing exclusive Real Madrid betting offers and promotions to supporters of the La Liga team as it looks to use the club's global status to raise its profile in the South American market. The existing deal had been due to end in 2019.

The partnership had previously drawn criticism after Codere extensively used Real Madrid's brand and players in its advertising campaigns, with accusations in the Spanish media that the club were willingly allowing its athletes to promote gambling services without due care.

Announcing the extension to the deal, Real Madrid said in a statement on its website that both parties share 'a clear commitment to fair play and a constant enthusiasm to improve'.

Vicente Di Loreto, Codere chief executive, said: "This agreement consolidates the international vocation of our group, which already operates online betting in Spain, Mexico, Colombia and Panama, and stays focused on the business growth opportunities that markets such as Argentina and Brazil may soon offer. It is also another demonstration of our strategy from the client's perspective, to which we are committed to providing the best omnichannel game experience."