Argentina international Demichelis placed 29 bets on football matches between January 22 and February 15 earlier this year.
The 35-year-old, who joined City in 2013 from Atletico Madrid, was punished under rules which were introduced in 2014-15 to prevent players and managers from betting on any football activity.
But he escaped being suspended by the FA because it is understood the offences did not relate to any matches over which Demichelis could have had an influence.
“The Manchester City defender breached FA Rule E8 in respect of 29 bets placed on football matches between 22 January 2016 and 15 February 2016,” an FA statement read.
Demichelis is not the first Premier League star to be charged with breaking betting rules.
Newcastle winger Andros Townsend, then at Tottenham, was given a four-month ban, three of which were suspended, and an Â£18,000 fine in 2013.
The same year striker Cameron Jerome, then of Stoke, was fined £50,000 after admitting repeatedly breaching the regulations, while then Newcastle midfielder Dan Gosling was fined £30,000 in 2014.– AFP
Original source: City’s Demichelis fined for betting breach