Stuart Bingham denies betting on his own matches but 'truly sorry' for breaking rules
The World Professional Billiards and Snooker Association last week ruled Bingham, the 2015 world champion, had gambled close to £36,000 on matches - some of which he was playing in - over a period of 12 years.
The 41-year-old said in a statement : " Although I have had legal advice confirming that I have good grounds for appeal, I have decided not to do so in order to bring this matter to a close."
Bingham accepts he was in the wrong by betting "relatively small amounts" on an internet account he used which belonged to long-term friend and adviser Gary Purkiss.
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However, he refutes the WPBSA disciplinary committee's findings that he had access to a telephone account that Purkiss used to place bets, which included some of Bingham's matches.
He said: "I accept entirely that I have breached the association's rules which relate to betting on snooker and I am truly sorry that I have done so. I did not attach sufficient importance to those rules and I now realise that was a mistake.
"I would occasionally have a bet whilst watching the streaming (on the internet account). These were relatively small amounts and were very often accumulator bets rather than on individual matches.
"I accepted that in October and December last year my bets became more frequent although they were not large sums. That was a clear and serious breach of the rules and I should not have done it.
"However, the disciplinary committee also concluded that I had over a long period indirectly used a Stan James telephone account that Gary had operated since approximately 2002.
"The significance of that is that Gary had placed some bets on matches in which I had played.
"In the absence of any direct evidence, the committee arbitrarily concluded that I was responsible for 50 per cent of the betting on that account (including the bets on my matches).
"I categorically deny that this was the case. I have never bet on a match in which I was playing."
Half of Bingham's ban has been suspended until October next year, but the world number 10 will miss the UK Championships and the Masters as he is not allowed to play again until January 26, 2018.
On why he chose to accept his sanction - which included paying £20,000 in costs - he added: "It may very well be that any appeal process would take longer than the term of the ban.
"Perversely, the rules do not provide for there to be a stay of any ban pending the outcome of an appeal."
