York racecourse has announced Sky Bet as the new sponsors of the Ebor Handicap, which will be worth STG1 million ($A1.8 million).

In a five-year deal, this year's race will have a 75 per cent increase to STG750,000 before rising to the million for 2019.

The race conditions will also be amended from next year, with three-year-olds prevented from from taking part.

In recent times, Ebor winners have raced well in the Melbourne Cup with 2000 winner Give The Slip second in the Cup the following year.

Purple Moon won the 2007 Ebor and ran second in the Cup as did Heartbreak City in 2016 while last year's Ebor winner Nakeeta was fifth at Flemington.