"It is alleged the player committed 12 breaches of FA Rule E8 concerning football matches between 22 January 2016 and 28 January 2016," the FA said in a statement.
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Argentina international Demichelis, 35, has until 1800 GMT on April 5 to respond to the charge.
FA Rule E8 states that players must not bet "either directly or indirectly, or instruct, permit, cause or enable any person to bet on" any "result, progress or conduct of a match or competition" in which they participate or over which they have any influence.
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Demichelis has made 29 appearances for City this season, most recently in their 1-0 Premier League loss at home to Manchester United.
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