The 40-year-old was found to have made 86 accumulator-style bets between 2006 and 2016, on which he lost £2,995.
Burden was also fined £5,000, with his ban to be activated if any more breaches occur before 1 January 2018.
Governing body the WPBSA was satisfied he did not "influence match outcomes or engage in any corrupt activity".
Chairman of the WPBSA (World Professional Billiards and Snooker Association) Jason Ferguson said: "It is a key part of any sports integrity strategy that players cannot bet on their sport.
"Alfie Burden put his career at risk by so doing and it is only through his full admissions and his cooperation with the disciplinary committee that he has avoided a career-ending suspension."
Burden turned professional in 1994 - earning £392,258 during his career - and had his best ranking tournament performances last season when he reached the quarter-finals of the China Open and European Masters.
Snooker player Alfie Burden has been given a six-month ban - suspended for a year - for placing bets totalling £25,000 on matches including his own.