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Online ticket brokering is the resale of tickets through a web-based ticket brokering service. Prices on ticket brokering websites are determined by demand, availability, and the ticket reseller. Tickets sold through an online ticket brokering service may or may not be authorized by the official seller.
Ticket resale is a form of arbitrage that arises when the number demanded at the sale price exceeds the number supplied (that is, when event organizers charge less than the equilibrium prices for the tickets). During the 19th century, the term scalper was applied to railroad ticket brokers who sold tickets for lower rates. [1]
At the time, StubHub said that 35% of tickets sold on its site came from professional brokers, and the rest came from part-time sellers or individuals. [40] In 2013, StubHub created an application especially for the South by Southwest events in Texas that gave users the opportunity to buy a range of tickets to all of the different shows. [41]
Three Long Island-based ticket brokers agreed to pay around $3.7 million to settle alleged violations of the Better Online Ticket Sales (BOTS) Act, the Department of Justice and Federal Trade ...
Man behind original ticket bot reveals how he scammed fans like you for millions during a U2 tour and others. How the guy behind the 1st ever ticket bot made $2.3 million from a U2 tour Skip to ...
Randy Cohen founded TicketCity in March 1990 using the experience he gained selling tickets on the secondary market in 1988 while attending the University of Texas at Austin. [ 1 ] On August 7, 1998, TicketCity became one of the first online ticket brokers .
In a 2009 article by the CBC, Ticketmaster argued that legislation was needed in Ontario to protect fans from scalpers and unauthorized ticket brokers saying, "You and I both know there is a thriving ticket-broker industry ... so the law is really a fiction ... We very strongly feel the law needs to be modernized to reflect the reality of ...
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