The 27-year-old Englishman is alleged to have committed the offenses between February 2017 and January 2021.
Toney's ban comes into immediate effect and will miss Brentford's final two games of the season against Tottenham Hotspurs and Manchester City.
Toney, who won his first England cap in March, will only be able to return to the field in January 2024.
He has scored 20 goals in 33 Premier League games for the Bees this season.
“Ivan Toney has been suspended from all football and football-related activity with immediate effect for eight months, which runs up to and including 16 January 2024, fined £50,000 and warned as to his future conduct for breaches of the FA’s betting rules,” an FA statement read.
“The Brentford FC forward was charged with 262 breaches of FA Rule E8 in total between 25 February 2017 and 23 January 2021. The FA subsequently withdrew 30 of these breaches and he admitted to the remaining 232.
“His sanctions were subsequently imposed by an independent regulatory commission following a personal hearing. He is permitted to return to training only with his club for the final four months of his suspension starting from 17 September 2023.”
“The independent Regulatory Commission’s written reasons for these sanctions will be published in due course, and The FA will wait to review them before commenting further.”
