Meanwhile, his aggressive demeanour and perceived lack of contrition in the interview could turn judges and jurors against him if cases come to court, and will increase the determination of those seeking to sue him.
"He did a terrible job," said Jordan Kobritz, a former lawyer and head of sports at SUNY Cortland university, reflecting the view of many sports fans and professionals reacting on social networks and in television studios.
"I didn't think he was sincere, contrite, forthright or remorseful," he told AFP after the first part of the interview was broadcast late Thursday.
"As a former attorney, I think his attorneys probably weren't in favour of what he did, because of the many potential legal consequences. I think they were right."
Kobritz said Armstrong missed an opportunity to make a genuine apology to two women, former team masseuse Emma O'Reilly and a teammate's wife Betsy Andreu, whom he had insulted when they attempted to reveal his doping.
"He ruined their life, he called them some violent names," said Kobritz, predicting the women would launch defamation suits. "He basically blew that opportunity. He basically incited them to come after him.
"The most logical result would be a settlement. He will be buying them off."
But that might not even be Armstrong's biggest legal challenge.
The US Department of Justice is close to making a decision on whether to add the government's name to a complaint lodged in 2010 against Armstrong by former fellow US Postal Service teammate Tyler Hamilton.
The Postal Service, a federal agency, paid $30 million in public money to sponsor Armstrong's team - and may now seek to get it back.
Keane said that a decision to drop a previous Department of Justice probe into Armstrong had been unpopular within the agency, and that many officials would be keen to reopen the inquiry following his admission.
"Now with him coming out, sort of daring the government to do anything, there will be tremendous pressure within the government and the Department of Justice to reopen and go forward," he told AFP.
"Otherwise, it looks like this guy is totally above the law."
-AAP