The Ireland Olympic Council have revealed that they are investigating an allegation regarding a bet made by one of their competitors.

An Irish athlete at the London Games, who has not been named, had allegedly previously bet on an opponent to win an event in which they were both competing.

The council has informed the athlete about an anonymous allegation that two bets were made in favour of an opponent in an unspecified sport prior to the Olympics.

The spokesman said that it was now a legal issue and that the council would not make any further comment at this time.

The Irish Independent newspaper reported that the alleged bets were placed the day before the competition in question started and that both were successful. It said the competitor withdrew €3,600 (£2,800) in cash on returning from the event.

Olympic Council of Ireland President Pat Hickey was quoted as saying that, if found guilty, any competitor would face "severe sanctions".