The midfielder was banned for three matches by the Scottish Football Association and hit with a £7,500 fine for betting on matches in which his team was involved.
Black admitted to making a stupid mistake and was quick to thank the 'Gers faithful for backing him the whole way through the betting debacle.
"I need to apologise to the fans. As soon as it came out, they backed me," he told Rangers TV.
"I've played a couple of games since it came out and they've been great. I'm serving my punishment now and I just hope I can come back stronger."
He added: "You break the rules so you've got to be fortunate to keep your job. That's where I've got to thank the board and the players and the staff who stood by me and gave me the chance.
"It's a second chance for a silly bet and it's up to me to come back stronger and repay them, as well as the supporters."