The competition will run between 16-18 September, gaining coverage on ITV.
As well as the Ayr Gold Cup, Virgin Bet will sponsor seven other races during the week. These include the Ayr Silver Cup, the Firth of Clyde Stakes, and the Doonside Cup Listed Race.
The company will also sponsor the Kilkerran Cup and the Ayr Bronze Cup on Friday.
Ayr Racecourse managing director David Brown said: “I am thrilled that Virgin Bet have chosen to sponsor the Ayr Gold Cup which is not only Scotland’s premier flat race but one of the most prestigious sprint handicaps in the racing calendar.
“Sponsorship has never been as important to racing that it is now in these difficult times, so it is with great pride we announce Virgin Bet as title sponsors of the Ayr Gold Cup. Virgin Bet is an exciting brand and I hope we can work together at Ayr for many years to come.”
Virgin Bet’s sportsbook director James McKay added: “We are excited to announce Virgin Bet’s new partnership with Ayr Racecourse, one of the great brands in UK racing. As one of the UK’s fastest growing sportsbooks, we know how much our customers enjoy the excitement of premier racing events at the most historic racecourses.
“The Virgin Bet Ayr Gold Cup will be a big moment in the flat-racing season, and we can’t wait to play our role over all three days at the Virgin Bet Ayr Gold Cup Festival.”