The 18-year-old, who came through the academy system at Portman Road, faces a charge of committing "alleged multiple breaches" of the guidelines.
Bishop has until June 1 to respond to the charge, the FA said on its website.
A statement on the Football Association's official website, thefa.com, said: ''Ipswich Town's Edward Bishop has been charged for alleged multiple breaches of FA Rule E8 in relation to betting.
"The player has until 1 June 2015 to respond to the charge.''
Bishop broke into the Ipswich first team this season, making 36 appearances and scoring one goal
The Suffolk club lost in the Sky Bet Championship play-offs to East Anglia rivals Norwich.
Source : PA
Source: PA