Redknapp, 67, was asked to respond to the new regulations which ban football club employees at teams in the top eight levels of English football from placing bets on any matches and leagues worldwide.
Previous rules only banned players from betting on competitions their teams are participating in, with Premier League players Dan Gosling and Andros Townsend, who played under Redknapp, during a loan spell at QPR, among those to face disciplinary action for breaches.
“You have a bet on the games in Europe or the Champions League what affect can you have on it?" Redknapp said.
“But if that’s the rules then everybody knows where they are so if there is no betting on football then so be it."
Alex Horne, FA general secretary, explained the new betting rules for professional players.
He told Sky Sports News: "What's interesting is that these rules are easier to police so quite simply, if you play above Step Four (Isthmian League, Southern League, Northern League) you don't bet on football.
"It's a much easier message to convey, to communicate and to understand if you are a player, a coach, a manager or a referee."
Redknapp particularly welcomed the ultimatum-style clarification issued by the FA with regards to betting activity.
“Lots of lads I know enjoy picking five or six teams on a Saturday I think you’ll find most of them get it all wrong like we all do but if you can’t do that anymore then that’s fair enough," he added.
“So we abide by the rules. Everybody at least knows now that you can’t have a bet on football. So I’m sure nobody, if they’ve got any brains, will do it.”