The 21-year-old was also suspended for four months backdated to 23 May although three of those months have been suspended until 1 July 2016.
Townsend had already voluntarily withdrawn from the England squad for the European Under-21 Championship.
It is believed he was not accused of betting on games he had involvement in.
However, the FA has strict betting rules that forbid gambling on a wide spectrum of fixtures laid out in its regulations.
The length of the up-front ban, coupled with the fact that he withdrew from the England Under-21 squad, mean he will not miss a game.
The midfielder, who was on loan at QPR for the second half of the season,  is a product of Tottenham's academy and signed as a trainee in 2008.
He has had loan spells at Yeovil, Leyton Orient, MK Dons, Ipswich, Watford, Millwall, Leeds, Birmingham and, most recently, with former Spurs manager Harry Redknapp at QPR.
Townsend made his Premier League debut for Spurs in September 2012 before joining Rangers in January, where he made 12 Premier League appearances, scoring twice.

Initial signs suggested Andrey Malanin, 55, died of natural causes, but police said they were investigating the death.
Greek media said Mr Malanin had failed to report for work on Monday and did not answer his phone. He lived alone on a heavily guarded street.
Russian officials confirmed the consul's death.
The Proto Tema website said colleagues accompanied by police went round to the apartment to check on Mr Malanin but found the door locked from the inside.
He was found lying on his bedroom floor. Police said the body had no visible injuries and there had been no obvious break-in.
Moscow's ambassador to neighbouring Turkey, Andrei Karlov, was assassinated in December, apparently in protest at Russian involvement in the bombardment of the Syrian city of Aleppo.
Tottenham midfielder Andros Townsend has been fined £18,000 by the Football Association for breaching betting regulations.
[NEXT_CONCEPT]
The head of the consular department at Russia's embassy in Greece has been found dead in his flat in Athens, police say.