According to Locog, if unwanted tickets are sold, the customer will be notified by email then refunded within 5-10 working days, subject to them receiving the original tickets back. If their ticket remains unsold it will be returned to their account.
The news comes as a further batch of contingency tickets were released this morning. Approximately 50,000 tickets are now on sale for sports including hockey, diving, handball, modern pentathlon, water polo and basketball.
Chris Townsend, Locog commercial director, said more tickets will be released over the coming weeks.
"This release of tickets gives people a great chance to attend sport in the popular Olympic Park venues. Tickets for further events will follow in due course and we will inform our ticketing database directly," he said.
"For those people who are no longer able to attend, or cannot give their tickets to friends or family, they can now use our resale platform. This will enable people to resell their tickets in a safe and legal way."
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