Sport England, the Sports Council Northern Ireland, Sport Scotland and the Sports Council for Wales will suffer more than a quarter of the £250m extra non-BLF lottery losses.
"Almost all my funding goes to charities and local voluntary groups," said Derek Mapp, chairman of Sport England. "There is a very high ratio of volunteers to paid officers in our national governing bodies, and most sports clubs and coaching are run by volunteers.
"If we are to protect existing programmes, we won't have anything left to support innovative new projects."
Last week's recalculation brings Sport England's total loss to the games to almost £100m. Tim Lamb, chief executive of the Central Council for Physical Recreation, said the promised Olympic legacy of increased sporting participation was "seriously under threat".