Plain clothes officers from the Metropolitan Police's 'Operation Podium' went into action near Wembley Stadium shortly before the FA Cup Final.
Eight men, between 22 and 45 years old, were arrested and are being held at a north London police station, the BBC reported.
The Met says people who want to see the Games from July 27 to August 12 should buy tickets from approved sellers or risk disappointment.
'Operation Podium' is designed to tackle fraud in relation to the Olympics and on Saturday a 35-year-old man from Northampton appeared in court charged with four counts of fraud in relation to a separate alleged Olympics scam.
Detective Superintendent Nick Downing warned the public: "If you buy tickets from unofficial places, you run the risk of paying over the odds for a non-existent ticket, ending up disappointed by not getting to see the game that you paid for, and risk having your personal and credit card details stolen for use in other crimes.
"Don't let this happen to you. Only visit official sites for a list of genuine sellers who are authorised to sell legitimate tickets."
"We are determined that ticket touts won't spoil anyone's enjoyment of the Olympic and Paralympic Games," Home Office minister James Brokenshire said.
"That's why we've increased the fine for touting Olympic tickets from 5,000 pounds to 20,000 pounds.
"My clear message to the touts is that you're not welcome and if you take the risk you will be caught."
