1860 Munich's Ivica Olic suspended, fined by DFB for match betting

1860 Munich striker Ivica Olic has been suspended for two matches and fined €20,000 by the German Football Association (DFB) after being found guilty of betting on games.

The DFB released a statement saying that Olic, 37, made online bets of three-figure amounts on a number of matches in August and September.

The former Croatia international placed bets on nine matches in his own division -- Germany's second tier -- though "he did not bet on games of 1860 Munich," the DFB said.

According to DFB rules, players in Germany are not permitted to bet on matches while still playing or use third parties to do so.

Olic, who joined 1860 in July, has accepted the DFB's decision.