The International Tennis Federation says the 23-year-old Ebbinghaus admitted to 67 violations between May 2012 and February 2013.
Ebbinghaus is currently No. 1,158 in the ATP rankings.
The ITF says three months of his suspension will be suspended if he commits no future violations and attends anti-corruption education training.
Half of the fine will be waived if Ebbinghaus co-operates with the tennis integrity unit in educating others about the ban on betting.
Under tennis rules, players are prohibited from betting on matches.