The governing body said in a statement that it had investigated a breach by England's 2015 world champion and that "there was a case to answer".
Bingham, 40, has admitted breaking WPBSA rules, but there is no suggestion of match-fixing.
"This was just a case of me not being clear on the rules," world number three Bingham told the BBC.
"I did not know I was not allowed to bet on other players' matches. I thought it was just my own I could not bet on, and I have never done that."
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(Reporting by Martyn Herman, editing by Ed Osmond)
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