Ipswich Town teenager Teddy Bishop has been fined £3,000 by the Football Association after admitting to breaking the federation's rules on betting.

The 18-year-old was last month charged with multiple breaches of rule E8, which prohibits players from betting on football matches.

Bishop admitted that he didn't know the full extent of the law and described the punishment as a "massive learning curve".

"It has been a very worrying time for me and I'd like to apologise to the manager and Ipswich Town," Bishop told the club website.

"I have no one to blame but myself for not being fully aware of the restrictions in betting on football.

"I am only young and I'm learning all the time about experiences in life and in football. This is an experience I won't forget. It has been a massive learning curve for me."

Ipswich confirmed that the bets Bishop made were not on games involving the Tractor Boys.