Tokyo 2020 Olympics ticket prices announced - Here is how much they would cost you

Tokya 2020 Summer Olympic Games: The first set of tickets for the Tokyo 2020 Olympics went on sale on Thursday, with Japanese residents able to enter a lottery to watch the sport of their choice. The ticket prices for 33 sports start from the cheapest general tickets at 2,500 yen ($23) to an eye-watering 300,000 yen ($2,730) for the best seats at the opening ceremony. Tickets for the best seats for men's 100m final will cost you a whopping 130,000 yen ($1,200). But half of all tickets will be priced at 8,000 yen ($73) or less and special tickets priced at 2,020 yen ($18) are available for families resident in Japan with children, senior citizens, and people with impairments.

Prices for domestic residents are "about the same as London 2012 but a little higher than the 2016 Rio Games," Yuko Hayakawa, senior 2020 marketing official said. The lottery will run only for Japan residents till May 28 and the successful applicants will be notified on June 20 and payment will be due a fortnight later.

The lottery system will make sure that everyone has an equal chance of winning the tickets and they are not sold on a first-come-first-served basis. Overseas applicants will be able to snap up tickets from June 15 via special "Authorised Ticket Resellers" in each country. Interestingly, the organisers have not announced the number of tickets that will be up for sale with various stadium configurations still being finalised with just less than 450 days to go until the opening ceremony. But they said it would be roughly the same as the 7.8 million tickets they estimated when bidding for the right to host the Games.

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Of these tickets, an estimated 70-80 per cent would be allotted to Japanese residents with the rest going to overseas fans.

The Tokyo 2020 Olympics will run from July 24 to August 9. The tickets for the Paralympics will also go on sale soon. Those planning to visit Tokyo for the mega event, can now go the official website and start planning their trip. However, boxing tickets are not available as the IOC has frozen preparations for the competition amid a spat with the governing body AIBA.