Alfie Burden has been handed a suspended six-month ban from professional snooker and fined £5,000 for placing bets on matches totalling £25,000.
The world number 65 was found to have placed more than 80 accumulator bets between 2006 and 2016, resulting in losses of just under £3,000.
After a hearing before the WPBSA Disciplinary Committee, the 40-year-old was suspended from competing in WPBSA sanctioned events for a period of six months, though this is suspended in full until January 1, 2018 and will only be invoked upon a further proven breach of the rules.
There is no suggestion that Burden was directly attempting to influence match outcomes, including his own, or engaged in any corrupt activity.
WPBSA Chairman Jason Ferguson said: "It is a key part of any sports integrity strategy that players cannot bet on their sport.
"Alfie Burden put his career at risk by so doing and it is only through his full admissions and his cooperation with the Disciplinary Committee that he has avoided a career ending suspension."
The Londoner reached the Quarter-Finals of the 2016 China Open and European Masters, as well as making his first career 147 break at the English Open in Manchester last October.