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The Oprah Winfrey Network said Armstrong did not receive a fee for the interview and was not offered one. But he admitted to losing $75 million dollars when his sponsors departed. "I've lost all future income," he said.
"I don't like thinking about it, but that was a 75 million-dollar day. Gone. And probably never coming back." Armstrong denied claims he attempted to make a payment to United States Anti-Doping Authority (USADA).
He said: "I had no knowledge of that, but I've asked around. I think the claim was 250,000 dollars. That's a lot of money. I would know. That is not true."
When asked how his mother was handling the situation Lance Armstrong said he did not realise how badly she was handling the situation until he saw her.
He said of his mother: "She's a wreck. She is not the type of person who would call me up and say that.
"But my stepfather called me up and said 'your mom is having a really hard time'. I saw my mom, and I thought, 'Oh this woman is a wreck'. It took seeing her to really understand that this has taken a toll on her life."
Lance Armstrong became visibly emotional for the first time in the interview with Oprah when he talked about the moment he had to tell his 13-years-old son Luke not to defend him at school.
He said: "I told Luke, don't defend me any more. Don't.
Courtesy of OWN: Oprah Winfrey Network.
"He's been remarkably calm and mature about this. I said if anybody says anything to you, they are going to see this, some kids or something. Do not defend me. Just say 'hey, my dad said he was sorry'. He said okay.
"He just said look, I love you. You are my dad. This won't change that."
Lance Armstrong was close to tears when he spoke about his having to tell his son not to defend him.
He said: "When this all really started I saw my son defending me and saying 'what you are saying about my dad is not true'. And almost goes to this question of why now.
"That's when I knew I had to tell him. And he had never asked me, he had never said 'dad is this true?' He trusted me.
"At that time I didn't say something, but I knew I had to."
When asked about whether he was doing the interview with Oprah so that he would be able to race again, Lance Armstrong replied 'hell yes'.
Lance Armstrong has said that severing all ties with his Livestrong Foundation was his most humbling moment.
In the second interview with Oprah, Lance Armstrong admitted he felt disgraced and humbled.
He said: "But I also feel humbled. I feel ashamed. This is ugly stuff.
"Nike called, and they said that they are out. Then the calls started coming.
"Everybody was out. Still not the most humbling time, but not a fun period."
The second part of the Oprah Winfrey interview is set to air at 2am GMT, with further revelations expected on how his family have coped while the cyclist was challenged over doping allegations. Last night he admitted he had taken banned substances during all seven of his Tour de France wins.
Latest ITV News reports
Lance Armstrong cannot expect to be redeemed after his brief TV confession. Names must be named.
Tyler Hamilton, a former team-mate of Lance Armstrong who implicated him in the doping scandal, has told ITV News, "I'm proud of him".