Teddy Bishop has made a heartfelt apology after admitting a charge of breaching the Football Association’s betting rules.

The 18-year-old midfielder has been fined £3,000 and warned to his future conduct after his case was heard by a disciplinary panel at the FA today.

The betting rules changed at the start of last season with anyone employed within the game prohibited from placing any kind of bet on any level of football worldwide.

Previously you could bet on football but not on games involving your club or any competition your club was taking part in.

“It has been a very worrying time for me and I’d like to apologise to the manager and Ipswich Town,” said Bishop, in a statement released by the club’s official 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.”

Town’s managing director Ian Milne added: “Teddy has apologised to Mick McCarthy and the club for his actions.

“Like the rest of the playing squad and the club staff in general, he was made aware of the guidelines regarding betting on football matches at the start of last season.

“He has accepted his punishment and we have reiterated to him the responsibilities he has as an employee of Ipswich Town Football Club but it is worth noting that the bets were all for small amounts of money and while placed under Teddy’s name, were shared amongst his friends away from the game.

“He is young and has made a mistake. He is aware of that and will certainly learn from it.”

The bets that brought about the charge were not on Ipswich Town matches.