The Penrith Panthers have confirmed their NRL stadium will be the first in Australian sport to be named after a betting organisation.

Centrebet has been officially announced as the new naming rights sponsor of the Panthers' home ground, most recently known as CUA Stadium.

The 22,500-capacity arena will now be known as Centrebet Stadium Penrith, and is an extension to the existing sponsorship the club holds with the gambling company.

When the naming rights deal was first speculated, the Panthers were condemned by the anti-gambling lobby for promoting gambling amid a continuing investigation into an NRL betting scandal.

Centrebet is an approved betting provider by the NRL and has existing sponsorships with four other NRL clubs.

"Centrebet has been a responsible corporate partner of the Panthers since coming on board with the club in 2010," said Panthers chief executive, Mick Leary.

"Our stadium has become a centre of excellence by not only hosting high level rugby league in the national competition but through its ability to be community centric in accommodating several community organisations.

"Panthers and Centrebet share many of the same community values and aspirations that is a perfect fit for our businesses."

Managing director of Centrebet Michael McRitchie said he was delighted with the partnership and the Australian sporting history it's created.

"We are extremely excited and proud to launch our sponsorship," he said.

"Centrebet see the Panthers and the wider western Sydney region as an area that is synonymous with rugby league and our core business.

"With a significant seven figure investment over a five year term, we are clearly demonstrating our commitment to rugby league and continuing contributions to community support through a very proud club with clear plans for future success.

"Naming rights of Centrebet Stadium Penrith is the first of its kind in the sports industry and we're proud and excited."