The deal will see 188Bet become the club's official betting partner for the 2009-10 and 2010-11 Barclays Premier League seasons.
The partnership will also give Villa fans the opportunity to take advantage of a range of promotional activity, which will be announced at the start of the season.
Paul Faulkner, Villa's Chief Operating Officer, said: "188Bet is a leading in-play betting specialist, who pride themselves on being able to offer over 3 500 in-play markets a month.
"A company that enjoys strong global markets and with a history of innovative in-play products, 188Bet are looking to develop Europe as a new territory in which to provide a quality in-play betting service.
"We are delighted they have chosen Villa as a key partner in helping drive this growth."
Andy Scott, 188Bet's CEO, said: "This partnership highlights our continued commitment to English football and the UK market as a whole.
"Establishing ourselves in the UK and across Europe remains a priority for us and we believe Aston Villa will prove be a further very strong partner in this goal.
"Aston Villa is a fantastic football club, steeped in tradition and we are really excited about the upcoming season."
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