The 21-year-old will serve one month, backdated to May 23, with a further 12 weeks suspended until July 1, 2016 pending a further breach of Football Association rules
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The winger, who withdrew from England's Under-21 squad for the summer European Championships in light of the original allegations, is not believed to have placed money on matches he was involved in.
A statement on the FA website read: "At an Independent Regulatory Commission hearing, Tottenham's Andros Townsend was suspended from all football and football activity for a period of four months, subject to any appeal, backdated to the 23 May 2013 when the player voluntarily withdrew from the England Under-21 squad.
"However, three months of the suspension is suspended until 1 July 2016 and will be automatically invoked upon a proven breach of the FA Betting Rules during that period.
"Townsend, who was also fined £18,000, was charged for breaches of FA Rule E8(b) for misconduct in relation to betting, which he admitted and requested a personal hearing."
Townsend recently enjoyed a successful loan spell at QPR, notching two goals in 12 Premier League appearances.