The pair reportedly face disciplinary action from the International Olympic Committee (IOC) for gambling on Olympic sports between July 24 and August 24.

IOC rules state that Olympians cannot place bets on the Games as it may "infringe" on the "course or result of the competition".

Ryan says every member of Team Ireland was briefed on what would be considered unacceptable behaviour before travelling to Rio de Janeiro and signed a contract saying they would not place bets on the competition. 

"They have all attended numerous seminars," he told Irish broadcaster RTE's "This Week" programme.

"They have been fully informed of the contract's content."

Sanctions that the IOC can enforce range from fines to compulsory attendance at a training seminar. 

"We have our own disciplinary procedure and that will be followed explicitly," added Ryan.

"What we will do is await the completion of the IOC's investigation and when we receive a report on the same and the report from the manager, then we will be in a position to take the necessary disciplinary action.

"At the moment, there are a number of allegations.

"We are just awaiting as to who is involved in this, when did it take place, was it before the Olympics or during the Olympics, and the level and extent of this alleged betting offence."

In January 2014, the IOC established the Integrity Betting Intelligence System (IBIS) to help collate and distribute intelligence and research from International Federations.

The system was first implemented at Sochi 2014, with all Winter Olympic IFs signing up to take part.

This followed on from the signing of a Memorandum of Understanding between world police body Interpol and the IOC.

Betting is banned under the terms and conditions of accreditation for everyone at an Olympic Games, including members of the media.

It has also emerged, meanwhile, that the IABA is to submit a report to the International Boxing Association (AIBA) criticising the standard of judging at Rio 2016.

Ireland’s bantamweight world champion Michael Conlan was involved in one of the most controversial contests of the Games, having appeared to have dominated a quarter-final against Vladimir Nikitin.

However, despite leaving his opponent heavily bruised, the judges controversially awarded the Russian the victory.

Conlan then went on an expletive-laden rant in a post-fight interview with RTE, where he claimed AIBA were "cheats" and that amateur boxing "stinks from the core to the very top".

The Irishman vowed never to fight again for AIBA, whose President C K Wu revealed that Conlan faced disciplinary action after he put his middle finger up at the judges following his loss.

AIBA executive director Karim Bouzidi was "reassigned" to another role within the organisation following the controversy, but Wu stressed last week it had been a "truly special" tournament.