The deal will see the online gambling company stay on as the third-tier side's front-of-shirt sponsor for the 2017/18 season.
Ayr and Bodog courted controversy in 2016 when they unveiled the club's new kit by paiting it onto a naked model.
On the launch of the latest partnership, Calvin Ayre, Bodog founder, said: “After the controversy of last year’s kit launch we felt we should change our strategy; so this year we are using a body-painted model in the away strip rather than the home one. We hope the pictures will give The Honest Men the boost they need for promotion and a good Cup run too. ‘Mon Ayr!”