Organizers of the Rio de Janeiro Olympics announced that 70 percent of tickets for the 2016 games will be reserved for residents of Brazil, according to the BBC News.

Fans can register online now as they wait for ticket sales to open in March. The first results of the draw will be announced in June.

More than half of the tickets will be on sale for $27 or less in the pool of 7.5 million tickets. The cheapest tickets will cost $15.

Brazil is the first South American city to host the Olympics, which will be held at the Maracanã Stadium on Aug. 5, 2016.

Details about the Paralympics will be announced in September.

Organizers of the 2016 games say all venues will be ready, although preparations are running behind schedule and the budget has been exceeded.

Rio 2016 Committee President Carlos Arthur Nuzman said he was adding one or two more venues to preserve the quality of the pitches for the football games which are already set to be held in five cities: Belo Horizonte, Brasília, Salvador and São Paulo and Rio de Janeiro.

The London 2012 Olympics sold 6.6 million tickets, but for the upcoming Olympics, Brazil is selling nearly a million more, Euro News reported. There will also be additional discounts for students and the elderly.

"We will have a fair and transparent process, in line with the concept of 'Games for All', which is one of the pillars of Rio 2016," said Rio 2016 Chief Commercial Officer Renato Ciuchini.

If organizers can find a way to buy tickets, some school children in Brazil will be able to watch the games for free.

Rio Mayor Eduardo Paes suggested someone buy 1.2 million tickets at a price of nearly $10 million for the children. Yet, no one has stepped forward to make the big purchase.

Olympic ticket scalpers caught reselling tickets distributed to the National Olympic Committees will face fines up to 100 times the face value of the ticket.