The deal will see the operator more than double its annual financial contribution to the leagues, while continuing to gain exposure from in-stadia advertisement and broadcasting.
Betfred also has a multi-million-pound deal with the Super League and announced earlier this month it would be sponsoring the Women’s Super League for the first time. Both contracts run until 2021.
Fred Done, Betfred Chairman, said: "We’ve enjoyed a great relationship with Rugby League and its supporters and therefore I am delighted we are now able to extend our sponsorship of the Championship and League One in line with our recent Super League and Women’s Super League agreements.
"Sports provide tremendous content for our digital platforms and we are delighted through deals like these we are able to be a part of it."
Betfred currently has several other sponsorship agreements in place with major sporting competitions, such as British Masters Golf, the World Snooker Championship and World Matchplay Darts.
